NSE market opens on negative note as ASI falls by 0.13%

Transactions on the Nigerian Stock Exchange for the week opened on Monday on a negative note as the prices of some major blue chips depreciated. The All-Share Index depreciated by 27.9 points or 0.13 per cent to close at 21,571.67 points, down from 21,599.57 points on Friday. Also, the market capitalisation dropped by N7 billion or 0.13 per cent to close at N6.886 trillion, a drop from the N6.895trillion posted on Friday. Dangote Cement led the losers’ chart, recording a loss of N2 to close at N108 per share. Cadbury followed with 44k to close at N14.54, while Ashaka Cement lost 28k to close at N9.02 per share. Unilever depreciated by 23k to close at N29.78, and NASCON20k to close at N4.28 per share. Investors, however, bought 209.14 million shares worth N1.6 billion traded in 3,499 deals. This was against 204.76 million shares valued N1.3 billion traded in 2,944 deals on Friday. On the gainers’ chart, New Gold led with N8 to close at N2, 513 per unit. Oando gained 67k to close at N14.11, while Zenith grew by 40k to close at N14.15 per share. GTB appreciated by 30k to close at N15.30, while Dangote Flour gained 22k to close at N5.67 per share. The banking sub-sector remained the toast of investors with 130.04 million shares worth N868.98 million exchanged in 2,009 deals. Sterling Bank drove activities in the sub-sector as investors bought 37.1 million shares worth N43.61 million traded in 182 deals. ETI followed with 28.68 million shares valued at N292.05 exchanged in 84 deals.