Investors’ Appetite Wanes Further As Index Sheds 1.13 Per cent

Ngozi-Okonjo-Iweala 3
Trading activities on the Nigerian stock exchange increased by 65.04% on Tuesday as investors bought 398.89 million shares worth N2.80 billion, in 4,579.00 deals, compared to 241.69 million shares worth N3.87 billion, in 4,434.00 deals exchanged on Monday. Multiverse Plc, Transcorp Plc, and FBNH Plc were the most actively traded stocks on the exchange today in terms of volume, while Zenith Bank Plc and Guaranty Trust Bank Plc in terms of value.
The Nigerian Stock Exchanges-All Share Index depreciated by 1.13% (-437.59) to close at 38,286.56 from 38,724.15 attained on Monday. Market capitalisation also decreased to 12.68 trillion from N12.83 trillion the previous trading day. The BGL 50 Index also followed suit with a 1.12% loss to close at 164.72 from 166.57, while the market capitalisation stood at N11.88 trillion from N12.01 trillion recorded on Monday.

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A total number of 17 stocks gained on the bourse today while 36 stocks declined leaving 59 stocks unchanged. Rak Unity Pet. Comp. Plc. emerged the toast of investors as it appreciated by 61.29% to close at N0.50 kobo, followed by Mobil Nigeria Plc with a 5.87% gain to close at N170.98 kobo. Others on the gainers chart include 7-Up Bottling Comp. Plc, Evans Medical Plc and May & Baker Nigeria Plc. On the flip side Union Bank Nigeria Plc. topped the losers chart with 6.57% decline to close at N8.25 followed by Union Homes Real Estate Investment Trust (REIT) which declined by 4.98% to close at N45.22 kobo. Others on the losers table include Nascon Plc, Dangote Sugar Refinery Plc and Ashaka Cement Plc.
Topping the chart amongst the BGL 50 stocks, The Street Journal reports, was Mobil Nigeria Plc that emerged the toast of investors as it appreciated by 5.87% to close at N170.98 kobo, followed by 7-Up Bottling Comp. Plc with a 5.00% gain to close at N188.52 kobo. Others on the gainers chart include; Wapic Insurance Plc, Cap Plc and Oando Plc. On the flip side Nascon Plc topped the losers chart with 4.96% declines to close at N8.24 kobo followed by Dangote Sugar Refinery Plc which declined by 4.93% to close at N7.14 kobo. Others on the losers table include; Ashaka Cement Plc, Skye Bank Plc and FBNH Plc.
Continental Reinsurance Plc released its Q3 results for the period ended September 30th 2014, showing a decrease of 0.86% in Revenue to N11.69 billion in 2014 from N11.79 billion in 2013. However, profit before tax decreased by 0.29% to N1.69 billion from N1.70 billion over the period while profit after tax increased slightly by 0.84% to N1.36 billion in 2014 from N1.35 billion in 2013.
GlaxoSmithKline Consumer Nigeria Plc released its Q3 results, Revenue increased by 8.81% to N23.21 billion from N21.33 billion. Moreover, profit before tax decreased by 25.87% to N2.06 billion in 2014 from N2.78 billion in 2013 while profit after tax decreased by 23.29% to N1.48 billion in 2014 from N1.93 billion in 2013

Author: News Editor

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