Stocks Slide Further At Exchange

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Traded equities at the Nigerian Stock Exchange (NSE) have continued to decline from Thursday last week.

Though the performance of shares for some time now has constantly fluctuated, the fall from Thursday has however, refused to pick up leaving the market at a bearish note as at Monday, May 6, 2011.

Specifically, all the market indicators at the end of transaction on Monday slid down further, to pronounce the loss recorded by companies at the end of last week’s trading.

All-Share Index (ASI) lost 0.51 per cent or 51 basis points from 25,963.50 points traded on Friday, to close lower at 25,800.53 points.

Exchange market capitalisation also lost N42.515 billion, to close lower at N8.26 trillion, from N8.30 trillion traded on Thursday.

The volume of traded shares decline by 37,388,180 shares or 13.6 per cent, to close at 174,434,577 shares, from 201,822,757 shares.

Also, the valued of traded shares lost N657.28 million or 26.7 per cent from N2.46 billion traded on Friday, to close lower at N1.81 billion.

Investors’ 174,434,577 shares, valued at N1.81 billion exchanged hands in 4,241 deals, as against 201,822,757 shares worth N2.46 billion, in 4,801 deals traded on Friday.

Thirty three companies lost in their transactions, led by Starcomms which lost 3 kobo per share while only 11 companies made gains in their trading led by CAP which recorded N1.40 gains per share.