Nigerian stocks shed N27b; Guinness, GTB, Dangote lose

Nigerian stocks shed N27b; Guinness, GTB, Dangote lose

Friday, November 27, 2015 9:05 pm

Traders at the Nigerian Stick Exchange

Traders at the Nigerian Stick Exchange

The market indices of the Nigerian Stock Exchange (NSE) on Friday dropped by 0.29 per cent due to profit taking.

The News Agency of Nigeria (NAN) reports that the All-Share lost 79.67 points or 0.29 per cent to close at 27,617.45 compared with 27,697.12 recorded on Thursday.

Similarly, the market capitalisation which opened at N9.522 trillion shed N27 billion to close at N9.495 trillion.

An analysis of the price movement chart indicated that Guinness topped the laggards’ chart, dropping by N3 to close at N123 per share.

Dangote Cement lost N1.99 to close at N158, while GT Bank dropped 45k to close at N20.55 per share.

UACN decreased by 45k to close at N26 and Oando lost 30k to close at N5.70 per share.

On the other hand, Nigerian Breweries led the gainers’ table, gaining N3 to close at N120 per share.

Unilever improved by N1.90 to close at N39.90, while FBN Holdings garnered 45k to close at N5.45 per share.

Ikeja Hotel increased by 16k to close at N3.66 and E-tranzact inched 10k to close at N2.80 per share.

FBN Holdings was the most traded stock, accounting for 163.01 million shares worth N848.62 million exchanged in 430 deals.

It was followed by UBA with a total of 28.78 million shares valued N107.61 million traded in 136 deals, while Continental Reinsurance sold 26.96 million shares valued N27.17 million in 11 deals.

Zenith Bank transacted 13.36 million shares worth N208.14 million traded in 287 deals and Diamond Bank sold 12.38 million shares worth N29.41 million achieved in 42 deals.

In all, a total of 338.19 million shares valued N2.65 billion were exchanged by investors in 2,700 deals.

This was in contrast with 167.47 million shares worth N2.32 million traded in 2,625 deals on Thursday

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