By Modupe Gbadeyanka
Trading activities resumed for the week on Monday on the Nigerian Stock Exchange (NSE) bearish with the market doing down by 1.72 percent on a day Access Bank released its financial results for last, declaring a rise in profit of 8.4 percent.
It was observed that sell-offs in blue chip stocks like Dangote Cement, 7up and Guinness resulted in the stock market losing a whooping N148.9 billion at the close of trading, reversing last Friday’s marginal gain.
Business Post reports that bears dominated the trading session with 19 stocks depreciating, while 15 advanced.
Dangote Cement led the laggers’ list with a loss of N11.29k to finish at N149.26k per share, while 7up trailed after dropping N9 to close at N86 per share.
Guinness depreciated by N2.15k to end at N61.35k per share, CAP declined by N1.48k to finish at N28.12k per share and Unilever crashed by N1.17k to close at N27.81k per share.
On the flip side, Nestle rose by N62.58k to finish at N691 per share to top the gainers’ chart and Forte Oil progressed by N2.63k to end at N54.50k per share.
Nigerian Breweries gained N1.15k to close at N130.5k per share, GTBank appreciated by 20k to end at N25 per share, while Zenith Bank advanced by 15k to finish at N14.50k per share.
According to our correspondent, the All-Share Index (ASI) declined by 430.09 points or 1.72 percent, while the market capitalisation crashed by N149 billion, leaving the ASI and market capitalisation to finish at 24,581.99 points and N8.51 trillion respectively.
At the close of activities on the NSE on Monday, investors exchanged a total of 128.2 million shares in 2,978 deals worth N1.5 billion.
Adedapo Adesanya