Vitafoam, Mansard others lead N116b equities loss

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16 stocks recorded price depreciation, led by Vitafoam with 5.00 per cent to close at N2.66 per share. Mansard followed with 4.88 per cent to close at N1.95 per share. SCOA lost 4.74 per cent to close at N3.42 per share.

Vitafoam, Mansard, SCOA, Paint Company, Skye Bank emerged top five losers’ on the equity sector of the Nigerian Stock Exchange yesterday, as market capitalisation plunged by N116billion.

Yesterday, 16 stocks recorded price depreciation, led by Vitafoam with 5.00 per cent to close at N2.66 per share. Mansard followed with 4.88 per cent to close at N1.95 per share. SCOA lost 4.74 per cent to close at N3.42 per share.

Paint Company of Nigeria shed 4.62 per cent to close at N0.62 per share. Skye Bank dropped 4.48 per cent to close at N0.64 per share. Dangote Cement depreciated by 4.17 per cent to close at N215.62 per share.

Wema Bank shed 3.77 per cent to close at N0.51 per share. Stanbic IBTC dropped 1.90 per cent Zenith also lost 1.15 per cent to close at N24.00 per share.
On the other hand, Flour Mills topped the gainers chart with 8.73 per cent to close at N31.00 per share.

TransNational Incorporated followed with 5.97 per cent to close at N1.42 per share. Honeywell added 5.00 per cent to close at N2.10 per share. Dangote Flour Mills appreciated by 5.00 per cent to close at N6.30 per share. Learn Africa gained 4.94 per cent to close at N0.85 per share.

Nigerian Aviation Handling Company added 4.89 per cent to close at N3.43 per share. Beta Glass garnered 4.38 per cent to close at N59.84 per share. Diamond Bank appreciated by 4.17 per cent to close at N1.25 per share. NEM gained 4.17 per cent to lose at N1.00 per share. Jaiz Bank also added 3.95 per cent to close at N0.79 per share.

Consequently, market capitalisation of listed equities dropped by N116billion or 0.9 per cent from N12.725trillion recorded on Friday to N12.609trillion while the All-share index depreciates by 336.12 points from 36,920.56 to 36,584.44.

The banking subsector maintained its dominance in volume terms with 109 million shares in 1,230 deals while the food products followed with 13 million shares in 267 deals.

The banking subsector was buoyed by activities in the shares of Guaranty Trust Bank with 61 million shares in 458 deals while United Bank for Africa followed with 11 million units in 231 deals.

The food products subsector was driven by activities in the shares of Nascon Allied Industries with 4.9 million units in 44 deals. On the whole, investors exchanged 368 million units in 3,728 deals.