NSE indices record 0.15% drop

Activities opened for the week on Monday on the Nigerian Stock Exchange (NSE) still on a negative trend, as the market awaits outcome of the last Monetary Policy Committee (MPC) meeting for 2016. Market indicators dropped further by 0.15 per cent as a result of losses by some highly capitalised equities. Specifically, the All-share Index which opened at 25,537.54 lost 38.54 points or 0.15 per cent to close at 25,499.00.

Also, the market capitalisation dipped N14 billion to close at N8.777 trillion compared with N8.791 trillion achieved on Friday. Mobil Oil topped the losers’ chart with a loss of N4.99 to close at N190.01 per share. Dangote Sugar trailed with 32k to close at N6.16 and International Breweries dipped 30k to close at N19.50 per share.

Stanbic IBTC also shed 30k to close at N15.50, while Ecobank Transnational Incorporated declined by 20k to close at N9.80 per share. On the other hand, Flour Mills led the gainers’ table, gaining 80k to close at N17 per share. Transcorp Hotel followed with a gain of 26k to close at N5.51 and Africa Prudential Registrar grew by 10k to close at N2.65 per share. Cutix increased by 9k to close at N1.98 and Dangote Flour added 7k to close at N3.80 per share.

An analysis of the activity chart indicated that Transcorp emerged the most traded equity, exchanging 19.89 million shares worth N13.56 million. It was followed by Skye Bank with a turnover of 14.08 million shares valued at N7.13 million and Diamond Bank sold 10.11 million shares worth N9.24 million. FCMB Group exchanged 9.09 million shares valued at N9.38 million, while investors staked N36.29 million on 8.51 million shares of United Bank for Africa (UBA). In all, the volume of shares traded closed lower as investors bought and sold 112.44 million shares valued at N858.54 million achieved in 2,532 deals. This was in contrast with 165.58 million shares worth N888.17 million traded in 2,279 deals on Friday.