Stock Market: Bearish Trend Persists As Index Sheds 0.36 Per cent

Trading activities on the Nigerian stock exchange decreased by 5.30% today as investors bought 377.73 million shares worth N4.10 billion, in 4,408.00 deals, compared to 398.89 million shares worth N2.80 billion, in 4,579.00 deals exchanged on Tuesday. Mansard Insurance Plc, Fidelity Bank Plc, and FCMB Plc were the most actively traded stocks on the exchange today in terms of volume, while Zenith Bank Plc and Nestle Nigeria Plc in terms of value.

The Nigerian Stock Exchanges-All Share Index depreciated by 0.36% (-138.38) to close at 38,148.18 from 38,286.56 attained on Tuesday. Market capitalisation also decreased to 12.64 trillion from N12.68 trillion the previous trading day. The BGL 50 Index also followed suit with a 0.39% loss to close at 164.09 from 164.72, while the market capitalisation stood at N11.87 trillion from N11.92 trillion recorded on Tuesday.

Arunma Oteh
A total number of 16 stocks gained on the bourse today while 22 stocks declined leaving 74 stocks unchanged. UBA Capital Plc emerged the toast of investors as it appreciated by 4.21% to close at N1.98 kobo, followed by Cap Plc with a 3.51% gain to close at N43.99 kobo. Others on the gainers chart include Ashaka Cement Plc, Diamond Bank Plc and R T Briscoe Plc. On the flip side UBA Plc. topped the losers chart with a 6.18% decline to close at N5.01 followed by Cadbury Plc which declined by 4.99% to close at N47.40 kobo. Others on the losers table include Transcorp Plc, Deapcap Plc and Ikeja Hotel Plc.

Topping the chart amongst the BGL 50 stocks was Cap Plc emerged the toast of investors as it appreciated by 3.51% to close at N43.99 kobo, followed by Ashaka Cement Plc with a 3.24% gain to close at N31.50 kobo. Others on the gainers chart include; Diamond Bank Plc, Fidelity Bank Plc and Nahco Plc. On the flip side UBA Plc topped the losers chart with 6.18% declines to close at N5.01 kobo followed by Cadbury Plc which declined by 4.99% to close at N47.40 kobo. Others on the losers table include; Transcorp Plc, FCMB Group Plc and CCNN Plc.

FBNH Plc released its Q3 results for the period ended September 30th 2014, showing an increase of 12.68% in Revenue to N332.63 billion in 2014 from N295.20 billion in 2013. However, Pre-tax profit increased by 5.25% to N73.74 billion from N70.07 billion over the period while profit after tax decreased by 5.85% to N55.62 billion in 2014 from N59.08 billion in 2013.

Diamond Bank Plc released its Q3 results, Revenue increased by 14.68% to N151.59 billion from N132.18 billion. Moreover, profit before tax decreased by 7.22% to N23.74 billion in 2014 from N25.58 billion in 2013 while Net Income increased slightly by 0.65% to N20.18 billion in 2014 from N20.05 billion in 2013.

Author: News Editor

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