Capital market indices drops further by 4.09 per cent

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Trading at the Nigerian Stock Exchange (NSE) resumed for the week on Monday still on negative trend with the market indicators dropping by 4.09 per cent with persistent profit taking.

The News Agency of Nigeria (NAN) reports that the All-Share Index lost 963.21 points or 4.09 per cent to close at 22,550.83 compared with 23,514.04 posted on Friday.

Similarly, the market capitalisation which opened at N8.086 trillion shed N331 billion or 4.09 per cent to close at N7.755 trillion.

A breakdown of the price movement chart indicated that Nestle led the losers’ chart, dropping by N37 to close at N703.05 per share.

Guinness came second with N11.10 to close at N102.89, while Dangote Cement depreciated by N9.40 to close at N123.60 per share.

Seplat dropped N8.84 to close at N168.12 while Lafarge Africa declined N8.45 to close at N78.30 per share.

On the hand, GT Bank topped the gainers’ table, increasing by 16k to close at N13.53 per share.

Continental Reinsurance followed with a gain of 4k to close at N0.92, while Tiger Brands also increased by 4k to close at 92k per share.

Eterna Oil gained 3k to close at N1.50, while UBA grew by 3k to close at N2.63 per share.

UBA emerged the most traded stock, exchanging 38.31 million shares worth N99.94 million transacted in 203 deals.

It was trailed by GT Bank with a total of 25.26 million shares valued N342.08 million in 438 deals, while Zenith Bank traded 23.26 million shares worth N214.46 million exchanged in 537 deals.

Further breakdown showed that FBN Holdings sold 21.66 million shares valued N76.07 million in 354 deals, while Access Bank accounted for 17.66 million worth N63.42 million traded in 146 deals.

In all, investors’ bought and sold 196.26 million shares valued N1.67 billion achieved in 3,248 deals.

NAN reports that this was in contrast with 476.65 million shares worth N6.16 billion transacted in 4,448 deals on Friday.

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