Fidelity bank banner UBA 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: 5,167


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...
2019: APC chieftain joins governorship race in Ebonyi...

Lagos court jails 3 foreigners for unlawful production...

Boko Haram closes in on Gulak (Adamawa), loses...

Ghana to offset legacy gas debt owed Nigeria,...

Ex-Head of State Gen. Abubakar’s lawyer lures Al-Mustapha...

Lagos declares N4.85bn Surplus Revenue for first quarter...

Eko Disco donates 500 rain jackets to LAWMA;...

Clock ticking for oil companies, says Halliburton CEO...

Anambra donates 80 hectares of land to FG...

Cloudy conditions and thunderstorms to dominate today’s weather,...

APC crisis: Plot to remove Oyegun suffers setback...

Scammers break record with tale of Nigerian astronaut...

 

Latest News EFCC to prosecute indicted candidates before 2019 polls 7 officials killed in helicopter crash Dreaded Nigerians have congregated in one party— Keyamo SERAP asks court to compel Buhari to investigate Ganduje over alleged bribery Stop blackmailing Tinubu, APC youth leader tells Jimi Agbaje 2019: APC may lose governorship election in Ogun — AD gubernatorial candidate Ex-VP Sambo, El-Rufai honour Senator Ahmed Aruwa at burial NNPC educates Senate on NLNG dividend account Boko Haram: Italy to deliver 6 gunship helicopters to Nigerian Air Force ‘Our workers are safe’, UNICEF says after suspected Boko Haram fighters attack Rann hospital 2019: Okorocha cautions Ohanaeze Ndigbo against taking sides Banks invest $150b yearly in developing nations

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (429,200 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,413 views) Shameless Genevieve Nnaji exposes breasts in public (327,347 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (280,716 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,525 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,114 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (211,863 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,104 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,310 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,292 views) Lagos plane crash: Journalist releases victims’ names (167,039 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,558 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (75) Business & Economy (3,868) Business Verdict (54) Columnists (972) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (311) International (2,796) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (64) News (41,285) Opinion (1,150) Pidgin (13) Politics (8,089) Religion (911) Sports (1,811) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera