Equities Market Down 0.74%
By UMORU ABDULKADIR
Transactions on the Nigerian Stock Exchange (NSE) on Monday dwindled, leaving both the All-Share Index (ASI) and Market Capitalisation to depreciate by 0.74 per cent respectively.
The ASI went down by 204.68 basis points or 0.74 per cent to close lower at 27,574.32 points compared to the 27,779.00 achieved on Friday.
Similarly, the market capitalisation dipped N99bn to finish the trading day at N13.423 trillion in contrast with the N13.522 trillion recorded the previous day of trading.
Today’s market downturn was driven by losses in large and medium stocks like Airtel Africa, Cap, Cement Company of Northern Nigeria and Dangote Cement, among others.
Despite the bearish outlook of the market,, the volume and value of Total increased by 64 and 10.7 per cent respectively, as investors traded 271.2 million shares valued at N2.905 billion in 4,795 deals in contrast with the 165 .3 million units of Shares worth N2.621 billion sold in 3,270 deals on Friday.
Banking stocks were once again the Investors’ toast as FBN Holdings exchanged 56.6 million shares worth N309.3 million to lead the activity chart. Guaranty Trust Bank followed with a turnover of 25.9 million shares valued at N731.5 million, while Access, Zenith and Fidelity Banks traded 15.9m, 15 8m and 24.8 million shares worth N118.5 million, N306.4 million and N26.3 million respectively..
A breakdown of the price movement chart showed that Airtel Africa topped the losers’table with a loss of N35 to close trading at N315. It was trailed by CAP which dipped 150 Kobo to finish trading at N23.25, Cement Company of Northern Nigeria declined by 75 kobo to close at N16.15. While Dangote Cement lost 40 kobo to finish at N155, Unilever Nigeria depreciated by 30 kobo to close at N29.
On the flip side, Okomu Oil gained 450 Kobo to lead the gainers’ table. Guaranty Trust Bank trailed with 95 Kobo appreciation while Cadbury Nigeria added 90 kobo to finish at N11.65. Nigerian Breweries and National Salt Company of Nigeria advanced by 45 and 30 kobo in that order to be among the top five gainers
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