NSE: Transactions resume on bearish trend, index down 0.90%

Activities resumed on the Nigerian Stock Exchange (NSE) on Monday on a negative trend, with the market indices dropping by 0.90 per cent as predicted by market watchers.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed N114 billion or 0.90 per cent to close at N12.517 trillion against N12.631 trillion posted on Friday.

Also, the All-Share Index, which opened at 36,646.46, lost 329.15 points or 0.90 per cent to close at 36,317.31, amid price losses.

An analysis of price movement indicated that Mobil led the losers’ table with a loss N9.62 to close at N182.93 per share.

Nigerian Breweries trailed with N4.99 to close at N185.01 and Guinness dipped N3.43 to N78.07, while Conoil declined by N1.37 to N27.70 per share.

Unilever also lost N1.30 to close at N40 per share.

Conversely, Total led the gainers’ table during the day, gaining N19.70 to close at N236.50 per share.

PZ came second with a gain of 89k to close at N26.89 and Air Service appreciated by 27k to close at N5.68 per share.

Dangote Sugar Refinery increased by 25k to close at N13.90, while Nigerian Aviation Handling Company (NAHCO) added 12k to close at N3.40 per share.

Similarly, the volume of shares dropped by 17.59 per cent with an exchange of 348.11 million shares worth N2.98 billion transacted by investors in 3,276 deals.

This was in contrast with 422.45 million shares worth N3.25 billion exchanged in 3,618 deals on Firday.

NAN reports that Custodian and Allied Insurance was the most active, exchanging 190.56 million shares valued at N647.89 million.

Oando followed with an account of 27.37 million shares worth N185.37 million, while Access Bank traded 14.95 million shares valued at N151.53 million.

Fidelity Bank sold 14.44 million shares worth N19.51 million and Sterling Bank traded 11.412 million shares valued at N11.63 million.