Equities dip by N58bn on NSE

Friday Ekeoba, Lagos - 19.02.2009

Driven by losses on the share prices of majority of the blue chip companies on the Nigerian Stock Exchange (NSE), the value of listed equities dipped on Wednesday by N58 billion.

The value of listed equities, represented by the market capitalisation, dropped by 1.12 per cent to close at N5.100 trillion from N5.158 trillion at which it opened.

Another indicator, the all-share index, also dipped by 1.12 per cent, as it shed 259 points to close at 22,800.7 points from 23,059.02 points.

Petroleum marketing stock, Mobil Oil Nigeria Plc, recorded the most share price loss, dropping by N13.48 to close at N256.30 per share from N283.97 at which it opened.

African Petroleum Plc followed with a loss of N8.36 to close at N158.90 per share and Oando Plc dipped by N2.99 to close at N67.00 per share.

Other share price losers included Ecobank Transnational Incorporated (ETI) Plc, losing N1.82; BOC Gases Plc, N0.85; Air Services Plc, N0.68; Wema Bank Plc, N0.64; Flour Mills Nigeria Plc, N0.70; CIS Leasing, N0.52; Afribank Plc, N0.44, among others.

On the contrary, Nestle Nigeria Plc recorded the highest share price gain, rising by N6.04 to close at N126.99 per share from N120.95.

Guinness Plc followed with a gain of N2.00 to close at N77.00 and BCC Nigeria Plc garnered N0.81 to close at N17.08.