Leadership (Abuja)
Chris Ugwu
29 December 2011
Trading on the Nigerian Stock Exchange opened on the negative note yesterday after Christmas holiday awith most blue chip companies recording losses.
Market watchers attributed the drop to Chrismas celebrations by investors.
Consequently, the market capitalisation depreciated by N46 billion or 0.7 per cent to close at N6,496 trillion from N6,7542 trillion while the All-Share Index equally dropped by 0.7 per or 146.03 basis points cent to close at 20,617.23 from 20,763.26 index points recorded on Friday, December 23, the last trading day before the Christmas holiday.
On the price movement chart, 31 companies depreciated in stocks while 18 others gained in value.
Nigerian Breweries, Transcorp and E-transact led the losers’ table with five per cent each, to close N104,60, 57 kobo and N4.94 per share respectively while Flour Mills and Seven-UP followed with 4.99 per cent each, to close at N59.38 and N46.47 per share respectively.
AllAfrica – All the Time