Nigerian Bank Nigeria Access Bank Plc – Market Capitalisation Drops Further By N36b On The Exchange

Source The Guardian: Helen Oji, December 10th 2009

TURNOVER volume on the Nigerian Stock Exchange (NSE) yesterday witnessed a downturn as 308.4 million shares worth N2.3 billion changed hands in 7,344 deals, lower than 437.8 million units valued at N2.9 billion exchanged in 6,061 deals, on Tuesday.

Corporate performance indices, the All-share index of the exchange also dropped by 154.06 points or 0.7 per cent from 21,054.59 recorded on Tuesday to 20,900.53, while market capitalization fell by N36 billion or 0.7 per cent from N5,008 trillion to N4972 trillion.

Specifically, at the close of transactions yesterday, 44 stocks recorded price depreciation, while 24 made the gainers’ table, thus causing price losses to outweigh gains.

Precisely, Benue Cement Company Plc led the losers’ table with 85 kobo to close at N42.55 per share, while Chellaram Nigeria Plc followed with 74 kobo to close at N14.13 per share.

Cadbury Nigeria Plc, United Bank for Africa Plc, Cement Company of Northern Nigeria Plc and Incar Plc lost 61 kobo, 38 kobo, 35 kobo and 37 kobo to close at N11.62, N11.02, N12.40 and N7.16 per share.

Nigeria Aviation Handling Company Plc, UAC Properties Plc, Skye Bank Plc, UBN Plc, First Bank Plc, Tripple G Plc and Zenith Bank Plc also dropped 37 kobo, 36 kobo, 31 kobo, 26 kobo, 25 kobo, 25 kobo and 25 kobo to close at N7.33, N20.00, N6.06, N5.35, N14.00, N4.84 and N13.50 per share.

On the gainers’ table, Flourmill Nigeria Plc emerged the day’s highest price gainer with 45 kobo, to close at N33.00 per share. Longman Nigeria Plc followed with 44 kobo to close at N9.41 per share.

Dangote Flour Mill Plc, Nigerian Breweries Plc, Academy Press Plc, Access Bank Plc, Prestige Assurance Plc, Custodian and Allied Insurance Plc and First City Monument Bank Plc also added 38 kobo, 25 kobo, 23 kobo, 22 kobo, 18 kobo, 23 kobo, 22 kobo, 18 kobo, 14 kobo and 12 kobo, to close at N8.15, N53.25, N4.91, N7.67, N3.93, N2.98 and N7.48 per share.

On the activity chart, the banking sub-sector maintained its dominance in volume terms with 166.9 million shares valued at N1.5 billion in 3,913 deals, followed by the insurance sub-sector with 69.1million units worth N95.6 million in 569 deals.

The conglomerate sub-sector ranked third on the list with 11.7 million shares worth N249.9 million in 255 deals.

First Bank of Nigeria Plc boosted activities in the banking sub-sector with 26.5 million shares worth N370.7 million in 1,029 deals, while Guaranty Trust Bank Plc followed with 23.3 million units worth N350.4 million in 422 deals.

The insurance sub-sector was lifted by activities in the shares of AIICO Insurance Plc, which traded 24.9 million shares worth N20.0 million in 269 deals.

The conglomerates was energized by activities in the shares of UACN Plc with 5.6 million units worth N210.7 million in 74 deals

Nigerian Bank Nigeria Access Bank Plc, FCMB First City Monument Bank Plc, First Bank of Nigeria Plc, GTB Guaranty Trust Bank Plc, Nigerian Stock Exchange, Skye Bank Plc, UBA United Bank for Africa, Zenith Bank Plc