Champion Breweries, Eterna Others Drag Capitalisation Of The Nigerian Stock Exchange By N83b

The Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, occasioned by losses incurred by most blue-chip stocks, especially by Champion Breweries and Eterna Plc, as market capitalisation depreciated by N83 billion.

The All-share index slumped by 158.98 points to 39,326.67 from 39,485.65 posted on Friday.

Similarly, market capitalisation of listed equities depreciated by N83 billion or 0.4 per cent from N20.572 trillion to N20.489 trillion.

Vetiva Dealings and Brokerage said: “ We expect a mixed trading pattern in tomorrow’s session as investors continue to cherry pick attractive names across sectors while taking profit in others.”

On the price movement chart, 21 stocks recorded price appreciation while 18 constituted the losers’ chart.

Champion Breweries led the losers’ chart with 7.73 per cent to close at N2.03 kobo while Eterna followed with 7.20 per cent to close at N6.986 kobo. Linkage Assurance lost 6.45 per cent to close at 58 kobo.

Oando dropped 5.00 per cent to close at N4.56 kobo. Caverton shed 4.86 per cent to close at N1.76 kobo. Ecobank Transnational Incorporated depreciated by 3.67 per cent to close at N5.25 kobo. Dangote Cement fell by 2.64 per cent to close at N243.00.

Transnational Corporation shed 2.17 per cent to close at 90 kobo.

On the other hand, Honeywell Flourmills emerged the day’s highest price gainer with 9.86 per cent to close at N3.90 kobo. UPDC followed, adding 9.84 per cent to close at N2.01 kobo.

ABC Transport appreciated by 9.09 per cent to close at 36 kobo. Presco added 8.90 per cent to close at N79.50 kobo.

FTN Cocoa gained 8.33 per cent to close at 52 kobo. Livestock garnered 7.83 per cent to close at N2.34 kobo. CHI appreciated by 7.14 per cent to close at 60 kobo. Nigerian Breweries also gained 5.58 per cent to close at N54.90 kobo.

Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 51.691 million shares valued at N46.840 million. Honeywell Flour Mills followed with 43.733 million shares worth N167.914 million, while Consolidated Hallmark Insurance traded 17.606 million shares valued at N10.632 million.

Oando traded 16.119 million shares valued at N71.450 million, while UPDC transacted 15.114 million shares worth N29.913 million.

– Theguardian