NB, Presco others lead N136billion stock market loss

The bears upstaged the bulls at the trading floor of the Nigerian Stock Exchange (NSE) yesterday, following price losses recorded by most blue chip companies, especially Nigerian Breweries (NB), and Presco, as market capitalisation plummets by N136billion.

Specifically, at the close of transactions yesterday, market capitalisation dropped by N136billion or 1.0 per cent from N13.556trillion recorded on Tuesday, to N13.420trillion. Also, the All-share index depreciated by 390.63 points from 38,924.63 to 38,534.64.

Nestle topped the gainers’ chart with 2.40 kobo to close at N1,462.5 per share, while Mobil followed with 1.50 kobo to close at N170.00 per share. Guinness added 1.15 kobo to close at N95.20 per share.

Ecobank TransNational Incorporated garnered 0.69 kobo to close at N17.95 per share. Dangote Flourmills appreciated 0.59 kobo to close at N12.59 per share. National Salt Company of Nigeria gained 0.50 kobo to close at N20.00 per share. Dangote Sugar appreciated by 0.45 kobo to close at N21.95 per share. PZ Cussons added 0.40 kobo to close at N22.50 per share. Berger paints garnered 0.38 kobo to close at N8.09 per share.

However, Nigerian Breweries emerged the day’s highest price loser with 3.67 kobo to close at N139.65 per share. Presco followed with 3.41 kobo to close at N65.00 per share.

WAPCO lost 2.00 kobo to close at N45.00 per share. Guaranty Trust Bank shed 2.00 kobo to close at N39.90 per share. Dangote Cement depreciated by 1.12 kobo to close at N239.88 per share.

Cadbury lost 0.81 kobo to close at N15.54 per share. StanbicIBTC dropped 0.50 kobo to close at N41.00 per share. Unilever depreciated by 0.20 kobo to close at N40.30 per share. International Brewery shed 0.14 kobo to close at N54.84 per share.

Sterling Bank was the toast of investors in volume terms with 43 million shares worth N43.5million. Diamond Bank followed with 36 million units worth N55billion. FBN Holdings accounted for 33 million units valued at N303million.

Guaranty Trust Bank exchanged 30 million units worth N1.2billion. United Bank of Africa traded 26 million shares valued at N275million.

On the whole, investors exchanged 323 million shares worth N4.4billion against 462 million units valued at N26billion recorded in 5,090 deals on Tuesday.