FBNH, Nascon, others lose despite market rebound

Despite the rebound in the Nigerian Stock Exchange market capitalisation on Thursday, 18 stocks – led by First Bank of Nigeria Holdings Plc, Nascon Allied Industries Plc, Africa Prudential Registrars Plc – depreciated in value.

Market capitalisation rose to N8.909tn from N8.853tn while the All-Share Index also appreciated to 25,899.91 basis points from 25,736.92 basis points.

The highest index point recorded in the course of trading was 26,020.32 basis points while the lowest and average index points were 25,694.79 and 25,850.98 basis points, respectively.

Other firms which made the top five losers category were Transcorp HotelsPlc and Cadbury Nigeria Plc.

The FBNH shares depreciated by N0.18 (5.13 per cent) to close at N3.33 from N3.51, while those of Nascon dropped to N6.52 from N6.86, losing N0.34 (4.96 per cent).

The share price of Africa Prudential Registrars also fell to N2.51 from N2.64, losing N0.13 (4.92 per cent).

Transcorp Hotels shares posted a N0.27 (4.90 per cent) loss to close at N5.24 from N5.51, while those of Cadbury Nigeria depreciated to N14.77 from N15.53, losing N0.76 (4.89 per cent).

Other losers were Learn Africa Plc, Nemeth International Pharmaceuticals Plc, Dangote Sugar Refinery Plc, AIICO Insurance Plc, Tiger Branded Consumer Goods Plc, Seplat Petroleum Development Company Limited, United Capital Plc, Fidelity Bank Plc, Total Nigeria Plc, Custodian and Allied Plc, Champion Breweries Plc, Lafarge Africa Plc and Nestle Nigeria Plc.

A total of 17 firms appeared on the gainers’ table with International Breweries Plc, Vitafoam Nigeria Plc, FCMB Group Plc, United Bank for Africa Plc and PZ Cussons Nigeria Plc emerging as the top five gainers.

Other gainers were Unity Bank Plc, Caverton Offshore Support GA Plc, NEM Insurance Company Nigeria Plc, Zenith Bank Plc, Nigerian Breweries Plc, Transnational Corporation of Nigeria Plc, Ecobank Transnational Incorporated Plc, Skye Bank Plc, Sterling Bank Plc, Continental Reinsurance Plc, Access bank Plc and Mobil Oil Nigeria Plc.

International Breweries shares rose to N18.80 from N17.06, gaining N1.74 (10.20 per cent), while those of Vitafoam also appreciated by N0.42 (9.77 per cent) to close at N4.72 from N4.30.

The share price of FCMB closed at N0.80 from N0.76, appreciating by N0.04 (5.26 per cent).

Similarly, UBA shares closed at N3.78 from N3.60, gaining N0.18 (five per cent), while PZ Cussons’ share price rose to N22.79 from N21.71, gaining N1.08 (4.97 per cent).

Cadbury Nigeria, International Breweries and Diamond Bank Plc had led the N97bn loss recorded at the close of trading on the floor of the NSE on Wednesday.

The FBNH and FCMB followed on the losers’ table to crown the top five losers category. In all, 32 firms closed in the red, while just nine firms gained.

The NSE market capitalisation had plunged to N8.853tn from N8.95tn recorded on Tuesday, while the All-Share Index also fell to 25,736.92 basis points from 26,020.32 basis points.

A total of 398.277 million shares valued at N2.646bn were traded in 3,581 deals.

Cadbury shares had depreciated by N1.67 (9.71 per cent) to close at N15.53 from N17.20, while those of International Breweries slipped to N17.06 from N18.50, losing N1.44 (7.78 per cent).

The share price of Diamond Bank dropped by N0.10 (7.14 per cent) to close at N1.30 from N1.40.

-punchng

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