NSE market indices down by 0.28%

Activities on the Nigerian Stock Exchange (NSE) on Monday resumed for the week on a negative posture with the market indices down by 0.28 per cent due to profit taking.

The News Agency of Nigeria (NAN) reports that the market capitalisation dropped by N26 billion or 0.28 per cent to close at N9.349 trillion against N9.375 trillion achieved on Friday.

Similarly, the All-Share Index which opened at 27, 294.21 shed 74.12 points or 0.28 per cent to close at 27,220.09 following loses recorded by some highly capitalised equities.

7UP recorded the highest loss to lead the losers’ chart, shedding N7.94 to close at N150.86 per share.

Lafarge Africa trailed with a loss of N2.50 to close at N47.50 and Cadbury declined by 65k to close at N12.95 per share.

Flour Mills lost 44k to close at N19.08, while Guaranty Trust Bank was down by 35k to close at N23.50 per share.

Conversely, Total led the gainers’ table, gaining N15.01 to close at N345 per share.

It was followed by Nestle gaining N4 to close at N795 and MRS gained N3.35 to close at N43.35 per share.

Okomu Oil appreciated by N2.05 to close at N43.05, while PZ Industries increased by N1 to close at N17.50 per share.

In spite of the drop recorded by market indicators, the volume of shares traded inched by 48.12 per cent with an exchange of 219.89 million shares worth N1.88 billion traded in 3,933 deals.

NAN reports that this was in contrast with a turnover of 148.45 million shares valued at N1.08 billion exchanged in 2,073 deals on Friday.

Wapic Insurance was the toast of investors, accounting for 26.91 million shares worth N13.46 million.

Sterling Bank followed with 26.31 million shares valued at N23.68 million and United Bank for Africa traded 21.67 million shares worth N92.14 million.

Access Bank sold 21.08 million shares valued at N119.23 million and Fidelity Bank exchanged 17.31 million shares valued at N15.60 million.