Nigerian Stock Exchange 2Equity investors in the Nigerian Stock Exchange lost N804billion within the first seven trading days of 2016. Market capitalization of the exchange wend down from N9.75 trillion on January 4, 2016, to N8.95trillion on January 12, 2016

The All-Share Index (ASI) also dropped from 28,370.32 basis points on the first day of trading in 2016 to 26,034.94 basis points on Tuesday.

The daily market performance of the NSE showed a drop in market capitalisation from N9.062tn on Monday to N8.953tn while the ASI also depreciated from 26,350.18 points to 26,034.93 on Tuesday.

A total of 223.385 million shares worth N2.512bn were traded in 2,776 deals. The highest index point recorded was 27,266.18 while the lowest and average index points were 26,034.93 and 26,350.18, respectively.

After the close of trading yesterday, 32 quoted firms emerged losers while only eight had their share prices appreciated.

On the other hand, 18 companies emerged losers while 12 gained on the first day of trading in 2016.

Livestock Feeds Plc, Tiger Branded Consumer Goods Plc, Nigerian Aviation Handling Company Plc, UAC Properties Plc and Cadbury Nigeria Plc emerged top losers.

The share price of Livestock Feeds closed at N1.22 from N1.34, losing N0.12 (8.96 per cent) while that of Tigerbrands shed N0.08 (8.51 per cent) to close at N0.86 from N0.94. NAHCO shares depreciated by N0.18 (five per cent) to close at N3.42 from N3.60.

UAC Properties shares also lost N0.29 (five per cent) to close at N5.51 from N5.80 while that of Cadbury closed at N15.49 from N16.30, losing N0.81 (4.97 per cent).

Other losers were Zenith Bank Plc, Oando Plc, PZ Cussons Nigeria Plc, Transnational Corporation of Nigeria Plc, Berger Paints Plc, Diamond Bank Plc, N.E.M. Insurance Company Nigeria Plc, Law Union and Rock Insurance Plc, Vono Products Plc, African Prudential Registrars Plc, Nigerian Breweries Plc, Unity Bank Plc, United Capital Plc, Ashaka Cement Plc, Cutix Plc, and Ecobank Transnational Incorporated.

Guaranty Trust Bank Plc, Neimeth International Pharmaceuticals Plc, Continental Reinsurance Plc, Wema Bank Plc, FBN Holdings Plc, UACN Plc, FCMB Group Plc, United Bank for Africa Plc, Skye Bank Plc, Stanbic IBTC Holdings Plc and Union Bank Nigeria Plc also emerged losers after the day’s trading.

May and Baker Nigeria Plc, Champion Breweries Plc, Eterna Plc, Portland Paints and Products Nigeria Plc, and Trans-national Express Plc topped the gainers table.

May & Baker shares gained N0.05 (five per cent) to close at N1.05 from N1 while that of Champion Breweries closed at N3.38 from N3.22, appreciating by N0.16 (4.97 per cent).

The share price of Eterna also closed at N1.69 from N1.61, gaining N0.08 (4.97 per cent) while that of Portland Paints and Products appreciated by N0.19 (4.82 per cent) to close at N4.13 from N3.94.

Trans-national Express shares gained N0.04 (3.60 per cent) to close at N1.15 from N1.11. Learn Africa Plc, Access Bank Plc and International Breweries Plc also emerged gainers after the close of trading at the Exchange.

By Dike Onwuamaeze

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