Nigeria Stock Market Statistics Monday, 10th February 2014.

The Nigerian Stock Market started the week on a bearish note. The NSE All Share Index lost 31basis points today, bringing the performance to negative 1.7 per cent. Market activity level as measured by volume increased 63.1 per cent to 445.4m, while total market value declined 64.4 per cent to N5.2bn. The Oil and Gas sector sustained its losing trend, shedding an additional 169basis points. This loss can be attributed to selling pressure in Oando 4.7 per cent. In the same vein, the Banking Sector dipped 89basis points on the back of losses in FBN Holdings 2.4 per cent and Zenith Bank 0.4 per cent. The Insurance Sector was however divergent to this trend, appreciating 9basis points. This gain can be attributed to price appreciation in International Energy Insurance 9.9Per cent and AIICO Insurance 2.2 per cent. Top gainers include International Energy Insurance 9.9 per cent, Beta Glass 5.0 per cent, and Presco 5.0 per cent; while top losers include Cutix 4.9 per cent, Trans-Nationwide Express 4.9 per cent and Secure Electonics Technology 4.8 per cent. We anticipate the bearish trend will thin out towards the end of the week as investors take advantage of the new price levels.