Investors Jostle For GSK Nigeria Shares, As Nigerian Stock Market Cap Falls By N35.36bn

Glaxo SmithKline (GSK) led the gainers’ list on Friday, as investors jostle for the firm’s shares ahead of its planned shutdown, while its market rival, Meyer, topped the losers’ list in the Nigerian stock market.

According to a report from the stock market authority, Nigerian Exchange Limited (NGX), both companies led the various categories amid a decline in the bourse’s valuation. 

Prime Business Africa learnt that the stock market capitalisation depreciated by N35.36 billion to N35.47 trillion, from N35.51 trillion.

Also, the report disclosed that the All-Share Index shed 64.98 basis points during trading to fall from 65,263.06 ASI to 65,198.08 ASI.

On the exchange floor, over 363.14 million shares were traded in 6,644 deals on Friday, worth N6.07 billion, against the 445.27 million shares, worth N5.08 billion, exchanged on Thursday in 7,095 deals. 

Top five gainers 

• Glaxo SmithKline’s share appreciated by N0.80 kobo to rise from N8.10 kobo to N8.90 kobo per share.    
• Cadbury grew by N1.25 kobo, up from N12.70 kobo to N13.95 kobo per share.    
• Abbey ended trading with N1.46 kobo from N1.33 kobo per share, rising by N0.13 kobo.    
• Chellaram gained N0.30 kobo to end trading at N3.39 kobo, having opened with N3.09 per share.     
• Academy’s stock was up by N0.20 kobo, closing at N2.35 kobo from N2.15 kobo per share.

Top five losers

• Meyer depreciated by N0.29 kobo, dwindling from N2.95 kobo to N2.66 kobo per share.      
• Eterna declined by N2.30 kobo to end trading at N21.10 kobo, after opening at N23.40 kobo per share.      
• Ikeja Hotel followed the same path, losing N0.26 kobo after trading hours, to sell at N2.42 kobo from N2.68 kobo per share.      
• UPL reported a decline of N0.23 kobo from the previous day’s share price of N2.49 kobo to end trading at N2.26 kobo per share.      
• Sovereign Insurance’s share depreciated to N0.50 kobo from N0.55 kobo, after losing 9.09 per cent during trading hours. 

Top five trading equities in the stock exchange 

• Transcorp reported 29.28 million shares, valued at N107.99 million, were traded on its floor.      
• FBN recorded 28.44 million shares valued at N514.50 million.    
• FCMB saw investors trade 26.78 million shares valued at N164.95 million.    
• Zenith Bank recorded 23.86 million shares exchanged on its floor, worth N809.73 million.    
• Japaul Gold reported 22.79 million shares, valued at N22.50 million, exchanged investors’ hands. 

Fakoyejo Olalekan

+ posts

• Over N535.37bn Gained By Shareholders In Dangote Sugar, Tantalizer, Others
• Negative Signal: Board Director, Sola David-Borha, Sells Off All Shares In Stanbic IBTC
• NLC To Embark On Warning Strike On Tuesday
• CBN-backed Official Window Record Increase In Dollar Rate, USD Falls In Black Market