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Index declined further despite corporate actions declared.

Market closed today with a total volume of 323.61 million units exchanged in 6,839 deals, valued at N3.424 billion. The volume traded today was 32.91% below the yesterday trade volume and the transaction value for the day moved downward by 4.53%. The day’s activities chart was driven majorly by the banking stocks such as Platinum bank, Access bank, GTB, Sterling bank and Skye bank as they emerged the top five trades for the day with 29.967 million units, 28.449 million units, 23.527 million units, 18.482 million units and 17.208 million units respectively. The drop recorded in the market today cut across all the sectors with the Food and Beverages sector losing in the lead.

The All-Share Index declined by 0.72% as against 0.70% recorded yesterday and the market capitalisation depreciated by N36.33 billion as against a decline by N34.462 billion of yesterday.NSE-30 lost 0.77% as against 0.25% loss of yesterday, NSE-Food and Beverages reversed to loss by 3.36% as against appreciation of 0.73% of yesterday. NSE-Banking dropped further today by 0.17% against the loss of by 2.13% of yesterday, NSE-Insurance which gained 0.27% yesterday lost 0.60% today and NSE-Oil and Gas against loss of 1.03% of the previous day retained yesterday’s index. At the close of trading today, out of the 124 securities traded, 22 advanced while 42 declined and 60 traded at their previous closed prices.

PZ emerged the highest gainer for day with 4.98% price appreciation, followed by Dangoteflour-4.84%,Unity bank-4.55%, Aiico 4.49%, Abctrans-4.94%,Uniondac-4.48% and Jberger-4.32%

GTB Plc and Japaul lost (5%) each to emerge the highest losers for the day. Other stocks in the category of top ten losers are:ETI-4.97%, Costain-4.96%,Nahco-4.96%, Unilever-4.96%,UPL-4.95%, Eternaloil-4.95%, Bigtreat-4.95% and Agleventis-4.91%.

Asosavings and Abctrans closed on bid today, while Livestock, Capoil, Nahco, Afribank, Firstinland bank, Springbank,Guinnes, Agleventis, Tantalizer, Afrinsure, Prestige, Unicinsure, Wapic, Unionhomes, Crusader, Eternaoil and Academy closed on offer.

Dangote Sugar Plc second quarter report:Turnover declined by 10.28% to close at N38.639b against N43.067b of the previous period.Profit after tax dropped by 43.08% to close at N7.308b as against N12.839b of the previous year.Working capital improved by 4.63% to close at N20.186b as against N19.292b of the previous year and Net Assets grew by 9.52% to close at N35.734b as against N32.627b

Dangote Flourmill Plc audited 2008 audited report: Turnover grew by 13.69% to close atN47.927b as against N42.153b of the previous period. Profit after tax increased by 432.8% to close at N2.989b as against. Net assets increased by 10.73% to close at N24.352b as against N21.985b. Dividend of 30k per share was declared.

Dangote Sugar Plc third quarter report:Turnover dropped by 7.60% to close at N59.440b as against N64.357b.Profit after tax dropped by 35.85% to close at N11.895b as against N18.553b.

PZ Nigeria Plc First quarter report: Turnover grew by 14.65% to close at N18.996b as against N16.568b and Profit after tax declined by 3.9% to close at N545.024m as against N567.401m.

Nestle Nigeria Plc third quarter report:Turnover grew by 32.23% to close at N49.899b as against N37.736b and Profit after tax grew by 31.45% to close at N7.222b as against N5.494b. Dividend of N1.95 was proposed.

Dangote Flourmills Plc third quarter: Turnover growth of 34.77% was recorded to close at N46.953b as against N34.839b of the previous period and Profit after tax grew by 33.16% to close at N7.615b as against N1.758b.30k per share dividend is proposed.

R.T.Briscoe Plc third quarter report:Turnover declined by 18.54% to close at N11.969b as against N14.694b and profit after tax dropped 66.35% to close at N282.681m as against N840.118m of the previous period.

Capital Hotels Plc third quarter report:Turnover grew by 16.91% to close at N3.273b as against N2.797b. Profit after tax also grew by 80.82% to close at N822.006m as against N454.558m.

Oasis Insurance Plc third quarter report: Gross premium grew by 78.64% to close at N780.313m as against N436.800m and profit after tax declined by 179.47% to close at (N96.548m) as against N121.485m.

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