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NSE closes March negative, records N116bn loss

The equities market closed, yesterday, on a negative note to end the month of March on the downswing as profit taking takes toll on share prices despite 2020 impressive earnings’ results. The market performance indices, NSE ASI, depreciated by 0.56 per cent as market breadth closed negative with 18 gainers and 24 losers. Consequently, the All- Share Index dropped by 221.98 basis points or 0.56 per cent from 39,267.11 index points the previous day to 39,267.11, while the market capitalisation of equities depreciated by N116 billion to close at N20.428 trillion from N20.544 trillion.

On the activity chart, the banking sub-sector dominated in volume terms with 191.05 million shares exchanged in 572 deals. The sub-sector was enhanced by activities in shares of Unity Bank Plc and UBN Plc. The premium subsector boosted by activities in shares of Zenith Bank Plc and FBNH Plc followed with 55.28 million units traded in 1,100 deals.

In all, investors exchanged a total of 347.17 million shares in 3,990 deals. Further analysis of the day’s trading showed that Linkage Assurance Plc led the gainers’ chart by 10 per cent to close at 66 kobo per share while Meyer Paints Plc and Prestige Assurance Plc followed with 9.76 per cent each to close at 45 kobo apiece per share and NEM Insurance Plc with a gain of 9.52 per cent to close at N2.30 per share.

 

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