N38bn market loss led by Ecobank, Oando and Diamond Bank

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At the close of trading on the floor of the Nigerian Stock Exchange on Tuesday, Ecobank Transnational Incorporated, Oando Plc and Diamond Bank Plc led the market to a loss of N38bn. Ikeja Hotel Plc and Unity Bank Plc followed on the losers’ table alongside 21 other losers.

The NSE market capitalisation sank to N8.855tn from N8.893tn recorded on Monday. The All-Share Index also slid from 25,853.58 basis points to 25,745.13 basis points.

A total of 287.037 million shares worth N2.668bn were traded in 4,561 deals.

The highest index point attained in the course of trading was 25,988.40 basis points while the lowest and average index points recorded were 25,745.13 and 25,879.24 basis points, respectively.

Ecobank share price depreciated to N16.26 from N18.01, losing N1.75 (9.72 per cent), while that of Oando fell to N4.82 from N5.33, losing N0.51 (9.57 per cent).

Similarly, the shares of Diamond Bank dropped to N1.35 from N1.48 to lose N0.13 (8.78 per cent), while Ikeja Hotel shares depreciated from N2.60 to N2.47, losing N0.13 (five per cent).

Unity Bank stocks also fell to N0.64 from N0.67, losing N0.03 (4.48 per cent).

Other losers were May & Baker Plc, Nigerian Breweries Plc, Honeywell Flour Mill Plc, NPF Microfinance Bank Plc, Fidelity Bank Plc, E-TRanzact International Plc, Nigerian Aviation Handling Company Plc, Cement Company of Northern Nigeria Plc, Africa Prudential Registrars Plc, Eterna Plc, NEM Insurance Company Nigeria Plc, Transnational Corporation of Nigeria Plc, Guaranty Trust Bank Plc and Wema Bank Plc.

First Bank of Nigeria Holdings Plc, Flour Mills Nigeria Plc, Continental Reinsurance Plc, Livestock Feeds Plc, Zenith Bank Plc, Seplat Petroleum Development Company Plc and Lafarge Africa Plc also appeared on the losers’ table.

A total of 13 companies made the gainers’ table with Conoil Plc, United Bank of Africa Plc, United Capital Plc, Okomu Oil Palm Plc and Learn Africa Plc emerging the top five gainers.

Stanbic IBTC Holdings Plc, Sterling Bank Plc, Access bank Plc, Nascon Allied Industries Plc, Dangote Cement Plc, Tiger Branded Consumer Goods Plc, 7-UP Bottling Company Plc and Union Bank Nigeria Plc also emerged as gainers.