STOCKS SLIDE AS 48 STOCKS SUFFER LOSES
Analysis of trading activities during the trading day for October 27, 2009 showed a loser’s market as market capitalization of the 179 First–Tier equities dropped by 1.21 percent to close at N5.213 trillion.
Losses were recorded by highly capitalised firms such as; Zenith Bank Plc, UBA, Mobil Plc, igerian Breweries Plc among others. Also, 48 stocks depreciated in price while 11 stocks led on the gainers chart.
Similarly, the Nigerian Stock Exchange All Shares Index, which opened at 22,372.99 slipped by the same margin from a high 22,372.66 to close at 22,100.31.
Mobil oil Nigeria Plc recorded the highest share depreciation, of N5.19 to close at N99.25 per share. The stock opened for trading at N104.44.
Nigerian Breweries plc followed on the losers with a loss of N2.06 to close at N54.00 per share.
Lafarge Wapco plc came third on the losers shedding N0.99 to close at N30.01 per share.
However, Total Nigeria Plc recorded the highest point on the gainers posting N8.00 to close at N168.12 per share.
Flourmills Nigeria plc followed on the gainers with a gain of N0.52 to close at 31.00 per share. It was trailed by IBTC with a gain of N0.39 to close at N8.39 per share.
The banking sector was the most active during the trading with a turnover of 174.878 millions shares valued at N1.257 billion, exchanged by investors in 3,460 deals. Volume in the banking sub-sector was largely driven by the activity in the shares of Access Bank plc with a turnover of 37.371 million shares valued at N243.631 million in 205 deals.
The Insurance Sub-sector, boosted by activity in the shares of Aiico Insurance Plc with a turnover of 14.230 million shares valued at N13.434 million in 335 deals. Total turnover of the sub sector stood at 37.165 million shares valued at N27.792 million in 568 deals.
Overall volume of traded shares stood at 320.476 million with capitalization of N1.851 billion and was exchange in 6,248 deals.
Source: Businessday, Wednesday 28, October 2009
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