Investors Lose N96bn Monday at Stock Market

By Dipo Olowookere

The first trading day of this week ended on a bad note for investors at the Nigerian Stock Exchange (NSE) as a result of the 0.67 percent loss recorded by the market.

During the session, the market capitalisation reduced by N96 billion to N14.360 trillion from N14.456 trillion, while the All-Share Index (ASI) went down by 184.93 points to 27,570.94 points from 27,755.87 points.

Business Post reports that despite the loss, the level of activity improved as the volume of trades rose by 1.50 percent to 134.6 million units from 132.6 million units, while the value of transactions increased by 23.76 percent to N1.6 billion from N1.3 billion, with the number of deals rising by 3.54 percent to 3,302 deals from 3,189 deals.

Zenith Bank was the most active stock, selling 22.5 million units worth N441.6 million, while United Capital traded 17.2 million units valued at N51.0 million.

GTBank exchanged 12.4 million equities worth N362.8 million, Unilever Nigeria traded 10.3 million stocks worth N153.7 million, while UBA transacted 8.8 million shares for N67.3 million.

At Monday’s session, there were 18 price losers as against 11 price gainers, with the losses mainly from the industrial goods sector (1.55 percent), banking sector (-1.46 percent) and the insurance sector (-0.76). Only the oil and gas sector gained yesterday, rising by 0.56 percent, while the consumer goods sector closed flat.

GTBank was the heaviest price loser, going down by 90 kobo to close at N29 per share, while BUA Cement fell by 80 kobo dropped 80 kobo to N35 per unit.

International Breweries depreciated by 70 kobo to N7.05 per share, Ecobank declined by 60 kobo to N6.40 per share, while Dangote Sugar fell by 50 kobo to N12.35 per share.

Oando led the gainers’ chart yesterday with a price appreciation of 15 kobo to close at N3.60 per share, Africa Prudential gained 7 kobo to sell at N4.75 per share, Custodian Investment grew by 5 kobo to trade at N6.05 per unit, Jaiz Bank rose by 4 kobo to settle at 68 kobo per share, while NPF Microfinance Bank also appreciated by 4 kobo to quote at N1.15 per unit.