Nigerian bourse ends week subdued


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Trading witnessed a downturn at the close of this week’s transactions on the floor of the Nigerian Stock Exchange (NSE), with a turnover of 5.9 billion shares worth 83.6 billion naira recorded in 91,171 deals, against the 5.33 billion shares valued at 67.2 billion naira exchanged by investors in 87,034 deals in the previous week.

Trading witnessed a downturn at the close of this week’s transactions on the floor of the Nigerian Stock Exchange (NSE), with a turnover of 5.9 billion shares worth 83.6 billion naira recorded in 91,171 deals, against the 5.33 billion shares valued at 67.2 billion naira exchanged by investors in 87,034 deals in the previous week.

Like last week, the Insurance sub-sector was the most active measured by turnover volume, with 2.9 billion shares valued at 17.01 billion naira exchanged by investors in 28,832 deals.

Volume in the sub-sector was driven by activity in the stocks of Continental Reinsurance Plc, N.E.M Insurance Plc, Equity Assurance Plc and Mutual benefits Assurance Plc.

Trading in the shares of the four Insurance Companies accounted for 1.4 billion shares, representing 48.04% of the sub-sector’s total turnover.

The banking sub-sector, boosted by activity in the shares of First Bank of Nigeria Plc and United Bank for Africa Plc, followed on the activity chart with a turnover of 1.7 billion shares worth 47.7 billion naira in 33,000 deals.

The All-share Index rose by 5.74% to close at a historic highest of 62,516.07 points, while market capitalisation of the 212 listed equities closed higher at 11.5 trillion naira.

One hundred and twenty four stocks appreciated in price, higher than the 111 in the preceding week.

Nestle Nigeria Plc led on the gainers’ table by adding 14 naira to close at 295 naira per share, while Cadbury Nigeria Plc followed with a gain of 9.82 naira to close at 49.72 naira per share.

Other price gainers are Julius Berger Nigeria Plc, Costain (WA) Plc, Conoil Plc, Oando Plc, First Bank of Nigeria Plc, Flour Mills Nigeria Plc, Eterna Oil and Gas Plc and Benue Cement Company Plc

Fourteen stocks depreciated in price during the week, lower than the 33 in the preceding week.

Mobil Oil Nigeria Plc led the week’s price losers, dropping by 29 naira to close at 91 naira per share.

Other price losers include Chevron Oil Nigeria Plc, Beta Glass Co. Plc, Trans-Nationwide Express Plc, PlatinumHabib Bank Plc, IPWA Plc, IBTC-Chartered Bank Plc, May and Baker Nigeria Plc and Nigerian-German Chemicals Plc.

Meanwhile, a full suspension has been imposed on Nampak Nigeria Plc, following suspected accounts mis-statement by the Company.

Also, the technical suspension on Zenith Bank Plc was lifted on Tuesday, following the expiration of the two weeks allowed by the Exchange after the closure of the bank’s supplementary share offering to the public.

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