Capital market indices dip by 0.60%

Transactions on the Nigerian Stock Exchange (NSE) ended on negative note on Monday as the capital market indices dropped marginally by 0.60 per cent. The decline was as a result of price loss by some blue chips. As a result, the market capitalisation depreciated by N81 billion or 0.60 per cent to close at N13.351 trillion.

This was against the N13.432 trillion achieved on Friday. The All-Share Index lost 267.41 points to close at 41,650.14 compared with 41,917.55 posted on Friday.

Analysis of the price movement indicated that Nestle led the losers’ chart by N14 to close at N1, 166 per share. Zenith Bank followed with a loss of N1.20 to close at N23.40, while Mobil lost N1 to close at N121 per share. Ashaka Cement dipped by 98k to close at N18.92, while Guinness depreciated by 80k to close at N230 per share.

On the other hand, Dangote Cement led the gainers’ table by N2.15 to close at N235.90 per share. Okomu Oil trailed with a gain of 75k to close at N44.75, while Nascon rose by 35k to close at N13.99 per share. ETI gained 29k to close at N16.79, while Portpaint grew by 27k to close at N5.79 per share.

The volume of shares traded declined by 27.07 per cent as 355.2 million shares worth N3.82 billion were traded against the 486.982 million shares valued at N6.15 billion traded on Friday. Skye Bank was the toast of investors, accounting for 69.71 million shares worth N281.94 million. Transcorp came second on the activity chart with 34.77 million shares valued at N138.64 million, while Zenith Bank sold 30.96 million shares worth N728.67 million. ETI traded 28.28 million shares worth N450.31 million, while FBN Holdings sold 20.44 million shares valued at N309.59 million.