24 firms lose, market capitalisation sheds N54bn

Stanley Opara

Losses in 24 firms at the close of trading on the floor of the Nigerian Stock Exchange crashed market capitalisation by N54bn.

The NSE All-Share Index also dropped to 25,349.07 basis points from 25,507.09 basis points.

On the top five losers category was Ashaka Cement Plc, Cement Company of Northern Nigeria Plc, Learn Africa Plc, NPF Microfinance Bank Plc and Okomu Oil Palm Plc.

A total of 242.687 million shares worth N1.648bn were traded in 3,213 deals.

The shares of Ashaka Cement closed at N20.58 from N22.80, losing N2.22 (9.74 per cent), while those of CCNN lost N0.78 (9.55 per cent) to close at N7.39 from N8.17.

Similarly, Learn Africa share price depreciated by N0.04 (five per cent) to close at N0.76 from N0.80, while that of NPF Microfinance Bank also closed at N1.14 from N1.20, losing N0.06 (five per cent).

Other losers were Champion Breweries Plc, Cutix Plc, Trans-national Express Plc, UAC Property Development Company Plc, Eterna Plc, Dangote Sugar Refinery Plc, Wema Bank Plc, Stanbic IBTC Holdings Plc, Nigerian Breweries Plc, Lafarge Africa Plc. Guaranty Trust Bank Plc.

Also on the losers’ chart were Oando Plc, Unilever Nigeria Plc, Nestle Nigeria Plc, Ecobank Transnational Incorporated Plc, Continental Insurance Plc, Zenith Bank Plc, UACN Plc and Glaxo Smithkline Consumer Nigeria Plc.

Okomu Oil Palm shares fell by N1.49 (4.99 per cent) to close at N28.36 from N29.85.

A total of 16 firms appeared on the gainers’ chart with United Capital Plc, FCMB Group Plc, ETranzact International Plc, Custodian and Allied Plc and May & Baker Nigeria Plc emerging as top five.

Other gainers were AG Leventis Plc, FBN Holdings Plc, Sterling Bank Plc, Total Nigeria Plc, United Bank for Africa Plc, Seplat Petroleum Development Company Limited, Transnational Corporation of Nigeria Plc, Fidelity bank Plc, Africa Prudential Registrars Plc, Access bank Plc and Dangote Cement Plc.

Meanwhile, Access Bank Plc planned to seek shareholders’ approval this month to raise up to N100bn ($505m) in debt capital via a public offering or a private placement, the bank said on Monday.