Tears as NSE Tumbles, Massive Losses Recorded

15 Jul 2016

Tears as NSE Tumbles, Massive Losses Recorded


Despite all efforts made by President Muhammadu Buhari, to stabilise the nation’s economy, more problem lies ahead, as Investors on the Nigerian Stock Exchange, NSE, on Thursday, July 14, lost N9 billion.

According to news reports, ‎the market indicators closed lower, dropping by 0.10 percent due to price losses by some highly capitalised equities.

The market capitalisation lost N9 billion or 0.10 percent to close at N9.858 trillion compared with N9.867 trillion recorded on Wednesday.

Similarly, the All-Share Index which opened at 28,730.42 lost 27.33 points or 0.10 percent to close at 28,703.09.

READ ALSO: 50 French companies have indicated interest in the Nigerian capital market

A total of 203.58 million shares valued at N2.49 billion exchanged in 3,805 deals was traded which was against 190.30 million shares worth N2.34 billion traded in 4,578 deals on Wednesday, July 13.

FBN Holdings was the most traded in volume terms, accounting for 32.91 million shares valued at N122.13 million.

Transcorp came second with a total of 30.64 million shares worth N50.27 million, while Zenith International Bank sold 25.84 million shares valued at N416.14 million.

‎Access Bank trailed with 17.92 million shares worth N99.53 million and investors staked N278.40 million on 12.07 million shares of GT Bank.

Top losers are Guinness, dropping by N3.36 to close at N97.60 per share.

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MRS trailed with a loss of N1.68 to close at N31.93, while GT Bank shed 70k to close at N23.09 per share.

PZ Industries also lost 70k to close at N21 and Okomu Oil dropped 22k to close at N31.28 per share.

Conversely, Forte Oil led the gainers’ table, growing by N7.78 to close at N163.53 per share.

Unilever followed with a gain of N1.59 to close at N33.39, while Nigerian Breweries gained 95k to close at N134 per share.

GlaxosmithKline appreciated by 50k to close at N18.50 and Cadbury increased by 30k to close at N16.30 per share.


News Source: Post-Nigeria, 9jaTales

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