NSE opens on negative note, index dips by 0.6%

Weekly transacions on the Nigerian Stock Exchange (NSE) opened on Monday on a negative note as major blue chips recorded price losses. The All- share index, which opened at 38,038.78, depreciated by 225.36 points or 0.6 per cent to close at 37,813.42. Also the market capitalisation shed N71 billion to close at N11.975 trillion against N12.046 trillion recorded on Wednesday.

Forte recorded the highest price loss of N4.30 to close at N39.65 per share. Presco followed with a loss of N1.48 to close at N37 per share, while OkomuOil dipped by N1 to close at N47 per share. AshakaCement also lost 71k to close at N23.78 per share, while Nigerian Breweries dropped 70k to close at N174.30 per share.

On the other hand, Champion led the gainers’ table with N1.46 to close at N16.10 per share. Zenith trailed with a gain of 17k to close at N21.28 per share, while UAC-Property gained 15k to close at N16.60 per share. Sterling Bank grew by 10k to close at N2.90 per share while, Live Stock appreciated by 7k to close at N4.57 per share. Investors exchanged a total of N489.39 million shares worth N3.2 billion in 5,798 deals against the  292.99 million shares valued at N2.4  billion traded in 5,278 deals on Wednesday.

Multi Verse emerged as the most traded stock, accounting for 222.22 million shares worth N111.11 million. UBA followed with 30.81 million shares worth N252.59 million, while Transcorp sold 28.17 million shares worth N39.39 million