New Telegraph

NSE opens week negative with N9bn loss

Trading activities on the floor of the Nigerian Stock Exchange yesterday closed negative to further extend losses as bears sustained grip on the local bourse following the sell-off. However, the market breath closed positive with 12 gainers against 13 losers.

 

Consequently, the All- Share Index dipped 425.24 basis points or 0.07 per cent to close at 24,269.58 index points as against 24.287.66 recorded the previous trading session while market capitalisation of equities depreciated by N9 billion from N12.660 tril-lion the last Friday to N12.669 trillion as market sentiment remained on the negative territory.

 

Meanwhile, a turnover of 305.10 million shares exchanged in 3,258 deals was recorded in the day’s trading.

 

The premium sub-sector was the most active (measured by turnover volume); with 99.66 million shares exchanged by investors in 1,106 deals. Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Zenith Bank Plc.

 

Also, the insurance subsector boosted by activities in shares of Sovereign Trust Insurance Plc and Mutual Benefits Assurance Plc followed  with a turnover of 86.81 million shares in 108 deals.

 

Further analysis of the day’s trading showed that in percentage terms , GSK Plc topped the day’s gainers’ table with 9.47 per cent to close at N5.20 per share while Fidson Healthcare Plc followed with 9.43 per cent to close at N2.90 per share. Linkage Assurance Plc added 9.38 per cent to close at 35 kobo per share.

 

On the flip side, Neimeth Pharmaceuticals Plc led the losers’ with a drop of 10 per cent to close at N1.35, per share rwhile Cutix Plc shed 9.89 per cent to close at N1.64 per share. Chams Plc trailed with 4.35 per cent to close at 22 kobo per share.

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