NB Retains Most Capitalised Stock in May
- By Kayode Ogunwale
- Published June 7th, 2010
- News
- Unrated
ACTIVITIES on the floor of the Nigerian Stock Exchange (NSE) in May show that Nigerian Breweries Plc retained the status of the most capitalized company on stock by stock basis. It however suffered 8.33 per cent drop in market capitalisation from N530.44 billion to N486.3 billion.
First Bank of Nigeria Plc displaced Zenith Bank Plc to occupy the second position. However, it suffered 0.98 per cent decline in market capitalisation while Zenith Bank Plc suffered 12.51 per cent drop to occupy the third position. Guaranty Trust Bank Plc and UBA Plc retained the fourth and fifth ranks though both suffered 5.22 per cent and 6.12 per cent drop in market capitalisation respectively.
With 7.4 per cent decline in market capitalisation, Unilever Nigeria Plc dropped out of the top 20 table and was replaced with Cadbury Nigeria Plc that recorded 30.5 per cent increase in its market value. Cadbury Nigeria Plc was admitted in the NSE-30 Index during the quarterly review in March 2010. Nine of the top 20 companies suffered declines in market capitalisation while 10 recorded increased market capitalisation when compared with the preceding month. Last month, 12 of the top 20 companies recorded increased market capitalisation while eight suffered declines in market capitalisation
Meanwhile, the market value of the 262 listed securities closed at N8.425 trillion, down by 0.4 per cent from N8.45 trillion recorded in April. The decline in market capitalisation resulted from the drop in equity prices during the month. The rise in equity prices recorded during the first week of the month could not be sustained. Ten sub-sectors recorded increased market capitalisation of between 0.45 per cent and 14.84 per cent while 21 sub-sectors suffered reduction in market capitalisation of between 0.13 per cent and 31.11 per cent. Four sub-sectors did not record any change in market capitalisation.
In the preceding month, 18 sub-sectors recorded increased market capitalisation of between 0.6 per cent and 44.82 per cent while 12 sub-sectors suffered reduction in market capitalisation of between 0.3 per cent and 11.1 per cent. Four sub-sectors did not record any change in market capitalisation. The market recorded five-month growth rate of 25.6 per cent and 18.75 per cent in equity market capitalisation and aggregate market capitalization, respectively. The 214 listed equities accounted for N6.37 trillion or 75.6 per cent of total market capitalisation, down by 0.5 per cent from the N6.4 trillion or 75.7 per cent recorded in April.
First Bank of Nigeria Plc displaced Zenith Bank Plc to occupy the second position. However, it suffered 0.98 per cent decline in market capitalisation while Zenith Bank Plc suffered 12.51 per cent drop to occupy the third position. Guaranty Trust Bank Plc and UBA Plc retained the fourth and fifth ranks though both suffered 5.22 per cent and 6.12 per cent drop in market capitalisation respectively.
With 7.4 per cent decline in market capitalisation, Unilever Nigeria Plc dropped out of the top 20 table and was replaced with Cadbury Nigeria Plc that recorded 30.5 per cent increase in its market value. Cadbury Nigeria Plc was admitted in the NSE-30 Index during the quarterly review in March 2010. Nine of the top 20 companies suffered declines in market capitalisation while 10 recorded increased market capitalisation when compared with the preceding month. Last month, 12 of the top 20 companies recorded increased market capitalisation while eight suffered declines in market capitalisation
Meanwhile, the market value of the 262 listed securities closed at N8.425 trillion, down by 0.4 per cent from N8.45 trillion recorded in April. The decline in market capitalisation resulted from the drop in equity prices during the month. The rise in equity prices recorded during the first week of the month could not be sustained. Ten sub-sectors recorded increased market capitalisation of between 0.45 per cent and 14.84 per cent while 21 sub-sectors suffered reduction in market capitalisation of between 0.13 per cent and 31.11 per cent. Four sub-sectors did not record any change in market capitalisation.
In the preceding month, 18 sub-sectors recorded increased market capitalisation of between 0.6 per cent and 44.82 per cent while 12 sub-sectors suffered reduction in market capitalisation of between 0.3 per cent and 11.1 per cent. Four sub-sectors did not record any change in market capitalisation. The market recorded five-month growth rate of 25.6 per cent and 18.75 per cent in equity market capitalisation and aggregate market capitalization, respectively. The 214 listed equities accounted for N6.37 trillion or 75.6 per cent of total market capitalisation, down by 0.5 per cent from the N6.4 trillion or 75.7 per cent recorded in April.
