New Telegraph

NSE opens week with marginal loss

The Nigerian equities market yesterday closed negative to begin the trading week on the downtrend as investors leveraged last week’s gains to take profits. Key market indicators, the NSE ASI, declined by 0.06 per cent with market breadth, however, closing on the positive route with 18 gainers against 11 losers.

 

Consequently, the All-Share Index dropped by 14.28 basis points or 0.06 per cent from 25,041.89 index points last Friday to 25,027.611while the  market capitalisation of equities depreciated by N8 billion to close at N13.055 trillion from N13.063 trillion. On the activity chart, the banking sub-sector dominated in volume terms with 51.85 million shares exchanged in 843 deals.

 

The sub-sector was enhanced by activities in shares of GTBank Plc and Fidelity Bank Plc. The premium sub-sector boosted by activities in shares of FBNH Plc and Zenith Bank Plc followed with 46.59 million units traded in 1,372 deals. In all, investors exchanged a total of 175.33 million shares exchanged in 4,294 deals.

 

 

Further analysis of the day’s trading showed that Cornerstone Insurance Plc led the gainers chart with 9.09 per cent to close at 60 kobo per share while Unilever Nigeria Plc followed with 7.14 per cent to close at N12.00 per share and UCAP Plc with a gain of 6.93 per cent to close at N3.24 per share.

 

On the flip side, Champion Breweries Nigeria Plc led the losers’ chart with a drop of 9.47 per cent each to close at 86 kobo per share. Honeywell Flour Mills Nigeria Plc followed with a loss of 8.57 per cent to close at 96 kobo per share while UACN Plc dropped by 4.84 per cent to close at N5.90 per share

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