Fidelity bank banner Bayelsa State banner
Market closes negative on first trading day of 2016, Naira falls as oil price appreciates

By News Express on 05/01/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 4,916


Transactions at the Nigerian Stock Exchange (NSE) resumed yesterday for 2016 on a negative trend with the All-Share Index dropping by 0.95 per cent due to profit taking.

The News Agency of Nigeria (NAN) reports that the index which opened at 28,642.25 lost 271.93 points or 0.95 per cent to close at 28,370.32.

Also, the market capitalisation lost N93 billion to close at N9.757 trillion compared with N9.850 trillion posted on Thursday.

Nestle recorded the highest price loss to lead the losers' chart, dropping by N30 to close at N830 per share.

It was trailed by Nigerian Breweries with a loss of N6.80 to close at N129.20, while GlaxoSmithKline lost N1.71 to close at N32.49 per share.

Ashaka Cement declined by N1 to close at N24 and Transcorp Hotel dropped by 29k to close at N5.51 per share.

On the other hand, Okomu Oil led the gainers' table, growing by N1.48 to close at N31.78 per share.

Cement Company of Northern Nigeria followed with a gain of 31k to close at N9.66, while Zenith Bank gained 25k to close at N14.30 per share.

Guinness increased by 12k to close at N120.52 and Oando gained 10k to close at N6 per share.

Austin Laz drove the volume of shares traded, exchanging 15.71 million shares worth N32.84 million traded in one deal.

FBN Holdings followed with an exchange of 10.70 million shares valued N52.96 million transacted in 246 deals, while Transcorp sold 8.45 million shares worth N12.77 million achieved in 120 deals.

Access Bank traded 8.02 million shares valued N38.54 million in 99 deals and UBA sold 7.12 million shares worth N24.06 million transacted in 138 deals.

In all, investors’ staked N98.97 billion shares on 700.52 million traded in 2,307 deals.

NAN reports that this was against 252.16 million shares valued N3.85 billion traded by investors' in 2,160 deals on Thursday.

In another development, the Naira yesterday depreciated by 0.8 per cent to exchange at N265 to the dollar at the parallel market; however, at the official interbank window, the Naira exchanged at N197 to the dollar.

Traders at the market were hopeful that the Naira would rebound in 2016 if the apex bank continued to enforce its policies at the foreign exchange market.

Besides, the price of crude oil at the international market hedged up to 38.9 dollars per barrel from about 35.7 dollars per barrel at the weekend.

Oil prices rose on Monday after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions.

Saudi Arabia, the world's biggest oil exporter, cut diplomatic ties with Iran on Sunday in response to the storming of its embassy in Tehran following Riyadh's execution of a prominent Shi’ite cleric on Saturday.

•Story based on NAN reports.

Source News Express

Posted 05/01/2016 1:02:14 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Nigeria’s external reserves hit $40.4 billion •CBN injects...

Re – Niger State: Waiting for Gov Bello’s...

Amosun calls for review of revenue allocation formula...

BREAKING NEWS: Ronaldo pips Messi to win 2017...

CNPP laments states’ inability to pay salaries; commends...

Buhari not opposed to restructuring — Presidency

Made-in-Aba campaign attracts N3bn in direct orders

Ibori’s kinsmen hold special prayer session for his...

EFCC recovers N102m for Agric Bank

2017 budget will bring more development, says APC...

Udom Emmanuel routs opponents to win Akwa Ibom...

Royal wedding: UK government begs Prince Harry, Meghan...

 

Latest News Special security force nabs gunrunner, soldier, policeman, 4 Fulani militia men fuelling herdsmen/farmers crisis Madumere wins again as court refuses to vacate order restraining the swearing-in of new Imo Deputy Gov 2 Nigerian pilgrims die in Saudi Arabia — NAHCON Mad man stabs monarch to death in Ekiti Solider, 21 herdsmen die in Benue gun battle Ngige eyes Anambra Central Senatorial seat, says he is under pressure to contest Boko Haram razes 40 houses in reprisal attack Police uncover plan to disrupt Sallah, Durbar celebrations in Kwara Buhari orders Security Chiefs to make Nigeria safe Court halts EFCC’s probe of Benue accounts Why we demolished Ayefele’s Music House — Oyo State Government Ebonyi suspends collection of personal income tax, illegal levies

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (379,380 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,604 views) Shameless Genevieve Nnaji exposes breasts in public (297,369 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,629 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,688 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,671 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,341 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,466 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (160,085 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,986 views) Lagos plane crash: Journalist releases victims’ names (153,276 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,510 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,468) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (529) Features (642) Global Business Monitor (295) International (2,283) Interview (162) Live Commentary (28) Love Matters (135) News (38,184) Opinion (1,064) Pidgin (11) Politics (6,115) Religion (833) Sports (1,654) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Yinka Ayefele's Music House Demolished

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement