News Agency of Nigeria (NAN)

NSE: Major blue chips suffer price losses

NSE: Major blue chips suffer price losses:

By Chinyere Joel-Nwokeoma

Transactions on the Nigerian Stock Exchange (NSE) on Friday closed on a downward note, following price losses suffered by major blue chips, as market capitalisation depreciated by N17 billion.

Specifically, the market capitalisation shed N17 billion or 0.19 per cent to close at N9.009 trillion compared with N9.026 trillion posted on Thursday.

Similarly, the All-Share index shed weight by 50.87 points or 0.19 per cent to close at 26,170.88 from 26,221.75 posted on Thursday.

The News Agency of Nigeria (NAN) reports that investors exchanged 2.26 million shares worth N2.63 billion transacted in 3,346 deals.

This was higher than a total of 137.6 million shares valued at N990.9 million exchanged on Thursday.

On the price movement chart, Mobil Oil led the gainers’ table, growing by N14.99 to close at N190 per share.

Flour Mills followed with a gain of 87k to close at N18.92 and Forte Oil increased by 45k to close at N104.50 per share.

Zenith International Bank improved by 43k to close at N15.13, while International Breweries grew by 36k to close at N19.89 per share.

On the other hand, 7UP topped the losers’ chart, shedding N7.54 to close at N143.32 per share.

Wapco trailed with a loss of N4.14 to close at N48, while Okomu Oil dropped N2.23 to close at N42.47 per share.

Cadbury lost 58k to close at N11.12, while Stanbic IBTC was down by 35k to close at N16.50 per share.

NAN also reports that Standard Insurance traded a total of 2.12 million shares valued at N1.07 billion and Zenith Bank sold 22.39 million shares worth N337.32 million.

It was followed by Sterling Bank which accounted for 18.58 million shares worth N14.86 million and GT Bank sold 18.01 million shares valued at N394.82 million.