By Dipo Olowookere
Trading activities resumed on the floor of the Nigerian Stock Exchange (NSE) on Monday, but when the market closed by 2:30pm today, it ended again in the negative territory.
Business Post reports that the local bourse depreciated today by 0.75 percent as profit-taking activities continued, with the Year-to-Date (YtD) returns reducing to 2.05 percent.
While the market capitalisation decreased by N107 billion to close at N14.137 trillion, the All-Share Index (ASI) went down by 295.11 points to settle at 39,028.51 points.
The volume of shares traded by investors on Monday decreased by 24.89 percent, while the value of stocks sold went down by 44.30 percent.
A total of 222.3 million shares were exchanged today in 4,461 deals worth N1.6 billion in contrast to the 296 million equities transacted in the last session valued at N3 billion.
These trades were dominated by the Financial Services sector, which traded 186.9 million shares valued at N1.1 billion, while the Consumer Goods industry followed with 10.4 million equities sold for N370 million.
AIICO Insurance was investors’ toast at the market on Monday, trading a total of 40.8 million shares valued at N23.6 million.
It was trailed by Access Bank, which sold 27.4 million equities worth N292.1 million, and FBN Holdings, which transacted 26.5 million shares valued at N245.6 million.
Fidelity Bank exchanged 12.5 million shares for N22.7 million, while UBA traded 10.2 million equities for N105.4 million.
Business Post reports further that the market breadth remained negative as the market recorded 10 gainers and 36 losers.
The day’s heaviest loser was Lafarge, which depreciated by N2 to close at N38.50k per share and was followed by MRS Oil Nigeria, which went down by N1.80k to end at N34.25k per share.
GTBank declined by 95k to settle at N41 per share, Zenith Bank fell by 55k to finish at N26.10k per share, while FBN Holdings decreased by 45k to settle at N9.25k per share.
On the flip side, Dangote Cement led the gainers’ table after appreciating by N1 to settle at N245 per share.
It was followed by Flour Mills of Nigeria, which gained 60k to close at N30.10k per share, and Eterna, which grew by 26k to end at N5.53k per share.
Ikeja Hotels went up by 12k to finish at N2.70k per share, while Dangote Sugar increased by 5k to close at N16.55k per share.
The market will go on a break tomorrow as Nigeria marks her Democracy Day. It will also be exactly three years President Muhammadu Buhari assumed office.
Tomorrow, President Buhari will address the nation and observers will expect the President to say what will lift the spirits of investors ahead of opening of the market again on Wednesday.
Adedapo Adesanya