Business

NSE begins week negative with N17bn loss

Trading activities on the floor of the Nigerian Stock Exchange yesterday closed negative as investors continues to take profits from gains recorded a few weeks ago. The market breadth also closed negative with 20 gainers against 26 losers.

 

Consequently, the All- Share Index dipped 32.61 basis points or 0.08 per cent to close at 40.154.09 index points as against 40.186.70 recorded the previous trading session while market capitalisation of equities depreciated by N17 billion from N21.025 trillion the last Friday to N21.008 trillion as market sentiment re  mained on the negative territory.

 

Meanwhile, a turnover of 289.33 million shares exchanged in 4,953 deals was recorded in the day’s trading.

 

The premium sub-sector was the most active (measured by turnover volume); with 124.22 million shares exchanged by investors in 1,542 deals. Volume in the sub-sector was largely driven by activities in shares of UBA Plc and FBNH Bank Plc.

 

Also, the banking subsector boosted by activities in shares of GTBank Plc and Ecobank Plc followed with a turnover of 42.92 million shares in 772 deals.

 

Further analysis of the day’s trading showed that in percentage terms, UPDC Reit Plc topped the day’s gainers’ table by 9.35 per cent to close at N5.85 per share while CHI Plc followed with 9.09 per cent to close at 36 kobo per share. Academy Press Plc added 8.57 per cent to close at 38 kobo per share.

 

On the flip side, Africa Prudential Registrars Plc led the losers by 9.59 per cent to close at N6.60 per share while Lasaco Assurance Plc shed 9.52 per cent to close at N1.52 per share. Niger Insurance Plc shed 8.70 per cent to close at 21 kobo per share.

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