Nigerian Market Falls further


The Nigerian stock exchange ended the week , shaving about N51 billion from the market capitalization, with which it opened Monday.

Despite that 20 stocks led by conglomerate UACN appreciated Friday, it was not enough to shore up the market.

The index closed at 22, 479 in contrast with Monday’s 22,552. Market capitalization on Monday was N7.192 trillion. By Friday, it shrank to N7.137 trillion. The market tried to rally Wednesday, but the efforts fizzled out on Thursday and Friday, as profit takers and bears took over proceedings.

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Twenty five stocks depreciated Friday with Nestle and Nigerian Breweries plc losing the most. While Nestle lost N5 to close at N425, Nigerian Breweries lost N3 to end the week at N109.

For the full picture of the market Friday, please click this link for the PDF file:PRICELIST FOR 18TH MAY 2012

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