Business
NSE Indices Tilt Southwards
The Nigerian Capital Market in the month of September 2009 finished on the downside as all the indicators tilted dowards.
Specifically the market value of 294 listed securities closed at N7.81 trillion from N7.92 trillion recorded in August representing a drop of 1.43 per cent.
Also, the Nigerian Stock Exchange all share index for the review month was down by 944.10 points or 4.1 per cent drop to close at 22,065.00 basis points as against its opening index of 23.009.10 basis points.
The NSE-30 index closed at 835.68 points indicating 1.6 per cent loss, the NSE Food/Beverages Index eased 7.7 per cent to close at 451.46 points. the NSE Banking Index shed 3.4 per cent to close to 358.24 points while the insurance index fell by 0.1 per cent to close at 312.16 points.
The Oil/Gas Index equally joined the pack of drifters declining by 9.5 per cent to close at 287.67 points. The liquidity squeeze in the market also affected the market turnover as the volume and value of transactions dropped by 8.7 per cent and 4.0 per cent respectively.
In all, investors during the period exchanged N66.01 billion for 9.05 billion shares in 123,106 transactions compared to a total of 9.91 billion shares valued at N66.01 billion wrapped up in 123,106 deals in August.
The banking subsector during the period led the activity chart measured by turnover volume trading N5.72 billion shares valued at N47.05 billion in 65,914 deals.
The Insurance subsector followed with 1.25 billion shares worth N1.14 billion exchanged in 9,562 deals.
The Food / Beverage and Tobacco Subsector accounted for 339.43 millions shares valued at N4 billion, traded in 9,069 deals.
A further breakdown of activities in the banking subsector showed that Access Bank Plc was the most active stock with 997.33 million shares.
It was followed by Zenith Bank Plc with 937.73 million shares, while Guaranty Trust Bank Plc placed third with 507.8 million shares.
The three banks accounted for 2.44 billion shares or 27 per cent of total-traded stocks in the subsector.
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