Market sheds N49bn, Diamond Bank, CAP, PZ lose

Market sheds N49bn, Diamond Bank, CAP, PZ lose

Market sheds N49bn, Diamond Bank, CAP, PZ lose

The equities market depreciated by N49bn as Diamond Bank Plc, CAP Plc and PZ Cussons Nigeria Plc emerged as top losers at the close of trading on the Nigerian Stock Exchange’s floor on Thursday.

The NSE market capitalisation dropped to N9.369tn from N9.418tn recorded on Wednesday, while the All-Share Index also slid to 27,280.95 basis points from 27,421.83 basis points.

A total of 243.608 million shares valued at N2.556bn were traded in 3,647 deals.

The market went as high as 27,425.86 basis points in the course of trading, while the lowest and average index points stood at 27,272.14 and 27,359.15 basis points, respectively.

A total of 24 stocks depreciated with Oando Plc and 7UP Bottling Company Plc following after the top three losers.

The share price of Diamond Bank depreciated by N0.12 (9.09 per cent) to close at N1.20 from N1.32, while that of CAP posted a loss of N1.67 (five per cent) to close at N31.73 from N33.40.

The PZ shares also slid by N0.95 (five per cent) to close at N18.05 from N19, while Oando shares depreciated by N0.28 (4.91 per cent) to close at N5.42 from N5.70.

The 7UP share price closed at N102.60 from N107.86, losing N5.26 (4.88 per cent).

Other losers were Vitafoam Plc, Sterling Bank Plc, Fidelity Bank Plc, Livestock Feeds Plc, Ecobank Transnational Incorporated Plc, Lafarge Africa Plc, Zenith Bank Plc, FCMB Group Plc, Transnational Corporation of Nigeria Plc, United Capital Plc and NEM Insurance Company Nigeria Plc.

Guaranty Trust Bank Plc, United Bank for Africa Plc, FBN Holdings Plc, Nigerian Breweries Plc, Red Star Express Plc, Access bank Plc and Custodian and Allied Plc also recorded losses in their share prices.

On the other hand, the market recorded gains of various degrees on 14 stocks.

International Breweries Plc, Wema Bank Plc, Africa Prudential Registrars Plc, Dangote Flour Plc and Airline Services and Logistics Plc emerged as the top five gainers at the close of trading.

The shares of International Breweries soared by N1.12 (5.93 per cent) to close at N20 from N18.88, while those of Wema Bank closed at N0.73 from N0.70, gaining N0.03 (4.29 per cent).

The share price of APR rose to N2.76 from N2.63, gaining N0.11 (4.15 per cent), while Dangote Flour shares appreciated by N0.17 (4.08 per cent) to close at N4.34 from N4.17.

Other gainers were the NPF Microfinance Bank Plc, Stanbic IBTC Holdings Plc, Fidson Healthcare Plc, Forte Oil Plc, AIICO Insurance Plc, Nascon Allied Industries Plc and Dangote Cement Plc.

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