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Stock market opens in 2014 negatively as capitalisation dips by N32bn

03 January 2014, 17:36

Lagos - The market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by N32 billion or 0.24 percent on Thursday, the first trading day in 2014, as major stocks recorded price loss.

The News Agency of Nigeria (NAN) reports that the market capitalisation closed lower at N13.194 trillion from the N13.226 trillion recorded on Tuesday.

The All-Share Index, which opened at 41 329.19, dropped by 100.7 points or 0.24 percent to close at 41 228.49.
Nestle led the losers’ chart by N18 to close at N1 182 per share.

Forte Oil followed, depreciating by N4.88 to close at N92.87, while Nigerian Breweries lost N2.89 to close at N165.01 per share.

Zenith Bank dipped by N2.40 to close at N25, while Guinness decreased by 91k to close at N235.09 per share.

On the other hand, Total led the gainers’ table, appreciating by N3.30 to close at N173.30 per share. Oando trailed with a gain of N2.48 to close at N26.73, while Dangote Cement grew by N1.01 to close at N220 per share.

Ashaka Cement appreciated by 89k to close at N21.88, while GTB rose by 73k to close at N27.75 per share. Sterling Bank emerged as the most traded stock, accounting for 104.83 million shares worth N262.08 million.

FCMB came second with a 41.59 million shares valued at N157.05 million, while NEM sold 38.31 million shares worth N30.99 million.

Unity Bank accounted for 32.59 million shares valued at N16.29 million, while UBA traded 31.61 million shares worth N287.38 million.

In all, the volume of shares traded decreased by 12.98 per cent as investors exchanged a total of 489.410 million shares worth N3.93billion in 3 965 deals.



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