NSE: Market Index drops by 2%
October 23rd, 2006 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
Ogbuotobo Chuks
Last week was not a too impressive week as the all share index of the Nigerian Stock Exchange dipped by 2 percent. This was as a result of declines in share prices of some leading blue chip companies.
The all share index dropped by 1.94 percent to 32,856.94 from 33,505.49 at the beginning of the week. Market capitalization closed at N4.121 trillion, from N4.203 trillion at the beginning of the week.
A turn over of 1.93 billion shares worth N14.6 billion in 34,306 deals were recorded last week.
The insurance sector was the most active, as most companies in this sector are offering public subscriptions in a bid to meet the new recapitalisation deadline.
On the top gainers side, Chevron was tops to close at N150(+N9.63). other include WAPCO closing at N63.52(+N3.52), African Petroleum with a gain of N1.48, Oceanic Bank, N1.47, Benue Cement Company, N1.17 etc.
On the losers side, we have Guiness Nigeria, -N47.13, Nestle Nigeria, -N12.58, Seven-Up, -N5.44, Oando,-N4.73, First Bank, -N2.89, UAC, -N1.00 etc.
In summary a total of 48 stocks appreciated in price, while a total of 35 depreciated in price at the end of the week.
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