Capital market indicators drop by 0.34 per cent

Activities on the Nigerian Stock Exchange (NSE) opened for the week on a negative note with the All-Share Index dropping by 0.34 per cent due to price depreciation.

The index lost 130.89 basis points to close at 38,447.89 against 38,578.78 achieved on Friday as a result of price losses by major equities. The market capitalisation which opened at N12.700 trillion lost N43 billion or 0.34 per cent to close lower at N12.657 trillion.

An analysis of the laggards’ chart indicated that Total Nigeria led the pack with a loss of N3.14 to close at N150 per share. Nestle came second with N2 to close at N1, 070, while Presco dropped N1.95 to close at N37.05 per share. Nigerian Breweries depreciated by N1.59 to close at N149.41, while International Breweries lost N1 to close at N25 per share. On the other hand, Guinness led the gainers’ table with N4.70 to close at N175.20 per share.

Seplat grew by N2.03 to close at N632.03, while Ashaka Cement improved by 57k to close at N18.75 per share. Dangote Cement rose by 51k to close at N226.51, while Okomu Oil Palm advanced by 45k to close at N33.95 per share. Also, the volume of shares traded dropped by 39.92 per cent with an exchange of 258.41 million shares worth N2.01 billion transacted in 4,552 deals. This was in contrast with 430.09 million shares valued N3.96 billion traded in 5,383 deals on Friday.

Transcorp was the toast of investors, accounting for 32.90 million shares worth N121.572 million. UBA followed with a total of 28.37 million shares valued N194.70 million, while FBN Holdings sold 24.83 million shares worth N318.28 million.

Mass Telecommunication Innovations Nigeria, accounted for 22 million shares valued N11 million and UBA Capital exchanged 18.67 million shares worth N30.51 million.