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NSE’s Indices Plunge Further

Following price losses suffered by virtually all the blue chips, transactions on the equity sector of the Nigerian Stock Exchange continued on a downward note, causing market capitalization to plunge further by N44 billion.

Yesterday, the All-share index depreciated by 129.75 points or 0.5 per cent from25,986.81 points recorded on Monday to 25,857.06 yesterday while market capitalisation dropped by N44 billion from N8.945 trillion to N8.901 trillion.

On the price movement chart, WAPCO topped the losers chart with 4.00 kobo to close at N48.00 per share. Dangote Cement followed with 2.50kobo to close at N164.00 per share.

Conoil she 1.79 kobo to close at N35.90 per share. International Breweries shed 0.89 kobo to closeat N19.89 per share. FO also dropped 0.32 kobo to close at N94.32 per share.

On the other hand, Mobil led others on the gainers chart with 5.00 kobo to close at N190.00 per share wile Guaranty Trust Bank followed with 0.9 kobo to close at N21.00 per share. National Salt Company of Nigeria added 0.35 kobo to close at N7.18 per share.

Nigerian Breweries gained 0.31 kobo to close at N142.00 per share. Custodian and Allied Insurance also appreciated by 0.18 kobo to close at N3.63 per share.

United capital traded 11million shares worth N47.5 million while FBN Holdings exchanged 10 million units valued at N34 million.

Eternaoil trailed with 10.7 million units valued at N32.9 million. United Bank for Africa exchanged 7 million shares valued at N31 million.

In all, investors exchanged 189 million shares worth N905 million in 2,417 deals, higher than a total of N160.9 million units valued at N1.12 billion recorded Monday.