NSE: Index falls to 38,000 points By Omodele AdigunTuesday, february 13, 2007
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After spending three days on 40,000 level, the performance index Monday receded to 38,000 points bracket on the Nigerian Stock Exchange (NSE) .The Index, which first hit the 40,000 bar last Tuesday, fell to 38,984.33 points at the close of business, from 39,168.94 points with which it opened trading. The market capitalisation of the equities was down to N5.27 trillion from N5.3 trillion.The market turnover stood at 360.6 million shares valuing N3.93 billion bargained in 9, 488 deals.The chunk of this came from the banking sub-sector which accounted for 264.9 million shares valuing N2.75 billion and crossed in 6,190 deals.Fidelity Bank led trading in the sub-sector as its investors exchanged 54.8 million shares worth N229.3 million shares sealed in 891 deals.At the close of business, the number of the gainers stood at 43 to 39 of the losers. Chevron led the market gainers with 780 kobo to close at N164 per share. WAPCO, Conoil, Ashaka Cement and NAHCO trailed the oil company with 362 kobo, 277 kobo, 189 kobo and 166 kobo to raise their prices to N76.12, N79.77, N68.51 and N34.86 respectively. Other top gainers were Guinness, Oceanic Bank, Unilever and Eterna oil which shot up by 94 kobo, 88 kobo, 43 kobo and 37 kobo to close at N115, N18.60, N13.73 and N7.79 respectively.On the other hand, Total lost 950 kobo to lead the losers’ group, closing at N180.50 per share. Flour Mills, Mobil, 7up and UACN occupied the top bracket of the group with 365 kobo, 299 kobo, 210 kobo and 171 kobo, closing at N69.50, N187, N45.90 and N32.59 respectively. Other losers were Union Bank, NNFM and Zenith Bank which fell by 139 kobo, 132 kobo and 117 kobo to close at N26.56, N25.18 and N30.65 respectively. Other top losers were Benue Cement and PZ which dropped 100 kobo and 99 kobo to close at N52 and N25.55 respectively.
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