Close button
The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp
x

NSE reopens negative as capitalisation plunges by N8b, amid recession

Related

NSE trading floor. PHOTO: FEMI ADEBESIN-KUTI


Trading on the equities sector appears to be reacting to the current recession, as the Nigerian Stock Exchange (NSE) reopened on a downturn yesterday, causing the market capitalisation to depreciate by N8 billion.
 
The All-Share Index (ASI) shed 15.04 absolute points, representing a decline of 0.04 per cent to close at 34,121.78 points. Similarly, the overall market capitalisation value fell by N8 billion to close at N17.830 trillion.
 
Monday’s downtrend was driven by losses in medium and large capital stocks amongst which were; Stanbic IBTC Holdings, Lafarge Africa, Flour Mills of Nigeria, Guinness Nigeria, and Ardova Plc.

x

On the stock market outlook for this week, analysts at United Capital Plc said: “In all, we anticipate a rebound in domestic equities on the back of the persistent declines in fixed income yields as well as elevated financial system liquidity.”
   
Sentiment, as measured by market breadth, was negative, as five stocks gained, relative to 46 losers. Airtel Africa recorded the highest price gain of five per cent to close at N525.00, per share.
 
BUA Cement followed with a gain of 4.77 per cent to close at N56.00, while Dangote Cement rose 3.42 per cent to close at N199.80, per share.
Nestle Nigeria advanced 1.82 per cent to close at N1,400.00, and NEM Insurance appreciated 0.78 per cent to close at N2.60, per share.   
 
On the other hand, Custodian Investment, Ardova, Honeywell Flour Mill, Lafarge Africa, Livestock Feeds and Transnational Corporation of Nigeria led the losers’ chart by 10 per cent each, to close at N5.85, N13.50, N1.08, N22.05, N1.26, and 90 kobo, respectively, per share. 
 
Oando followed with a decline of 9.97 per cent to close at N2.89, and Neimeth International Pharmaceuticals shed 9.96 per cent to close at N2.17, per share.
   
However, the total volume traded increased by 64.69 per cent to 568.037 million shares, worth N7.326 billion, and traded in 8,928 deals. Transactions in the shares of Zenith Bank topped the activity chart with 79.741 million shares valued at N1.913 billion.
 
FBN Holdings (FBNH) followed with 72.749 million shares worth N499.577 million, while Access Bank traded 65.741 million shares valued at N520.344 million.
   
United Bank for Africa (UBA) traded 46.969 million shares at N360.036 million, and Guaranty Trust Bank transacted 37.097 million shares worth N1.266 billion.

x

Receive News Alerts on Whatsapp: +2348136370421

No comments yet