Business

NSE begins week negative with N39bn loss

Transactions in equities on the floor of Nigerian Stock Exchange yesterday closed negative as investors take profits from last week’s bullish rally.

 

However, the market breadth closed positive with 17 gainers against 15 losers.

 

Consequently, the All-Share Index dipped 73.63 basis points or 0.21 per cent to close at 35,326.36 index points as against 35,137.99 recorded the previous trading session while market capitalisation of equities depreciated by   N39 billion from N18.365 trillion the last Friday to N18.326 trillion as market sentiment remained on the negative territory.

Meanwhile, a turnover of 324.32 million shares exchanged in 4,108 deals was recorded in the day’s trading.

 

The premium sub-sector was the most active (measured by turnover volume); with 184.91 million shares exchanged by investors in 1,336 deals.

 

Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and FBNH Bank Plc.

Also, the banking sub-sector boosted by activities in shares of GTBank Plc and  Ecobank Plc followed with a turnover of 38.21 million shares in 880 deals.

 

Further analysis of the day’s trading showed that in percentage terms, Livestock Feeds Plc topped the day’s gainers’ table with 9.92 per cent to close at N1.33 per share while NNFM Plc followed with 9.90 per cent to close at N6.88 per share. FTN Cocoa Plc added 6.90 per cent to close at 31 kobo per share.

 

On the flip side, TRANSCOHOT Plc led the losers by 10 per cent to close at N3.60 per share while ETI Plc shed 8.47 per cent to close at N5.40 per share. NPFMFB Plc shed 5.06 per cent to close at N1.50 per share.

 

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