A Review of the Nigerian Energy Industry

Oando, Transcorp, 38 others push NSE index lower

16 July 2015, Lagos – The price losses recorded by 40 stocks on Wednesday prompted a 1.3 per cent decline in the Nigerian Stock Exchange All-Share Index.

Nigerian-Stock-Exchange.NSEOando Plc led the pack of the decliners as it fell by 8.82 per cent or N1.17 to close at N12.10 per share.

The market capitalisation of the listed equities on the NSE was also down by N137bn to close at N10.577tn from N10.714tn on Tuesday.

The NSE ASI shed 402.39 basis points to close at 30,970.51 basis points, 12.18 per cent lower than its 2015 peak recorded on April 2.

The index of the 30 most capitalised stocks on the floor of the NSE declined by 1.30 per cent on Wednesday, while the index of consumer goods stocks dipped by 1.70 per cent, weighing on the all-share index.

Among the top decliners were Transnational Corporation of Nigeria Plc, Computer Warehouse Group Plc, Nigerian Aviation Handling Company Plc and Ashaka Cem Plc, which lost 8.77 per cent, 4.99 per cent, 4.97 per cent and 4.97 per cent to close at N2.08, N3.43, N4.97 and N21.05 per share, respectively.

Others include Dangote Flour Mills Plc, Unity Bank Plc, Honeywell Flour Mill Plc, Seplat Petroleum Development Company Plc and Skye Bank Plc.

There were 11 gainers on Wednesday, led by Forte Oil Plc, which gained 9.37 per cent to close at N196.87 per share.

It was followed by FCMB Group Plc and Diamond Bank Plc, which appreciated by 8.70 per cent and 4.21 per cent to close at N3.00 and N3.96 per share, respectively.

At the close of trading, investors bought and sold a total of 423.151 million shares valued at N7.493bn in 3,961 transactions.



– Punch

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