By Dipo Olowookere
The Nigerian Stock Exchange (NSE) returned to the danger zone on Monday after closing green last Friday. Yesterday, the market depreciated by 0.13 percent, expanding the year-to-date loss to 15.41 percent.
At the close of transactions, the All-Share Index (ASI) decreased by 28.88 points from 22,705.19 points from 22,734.07 points, while the market capitalisation reduced by N15 billion to N11.832 trillion from N11.847 trillion.
The activity level weakened during the session, with the volume of shares going down by 24.78 percent to 551.5 million from 733.2 million and the value of shares decreasing by 43.66 percent to N5.8 billion from N10.2 billion.
GTBank emerged the most traded equity at the market yesterday, transacting 137.2 million units worth N2.6 billion, while FBN Holdings exchanged 135.3 million units valued at N518.3 million.
In addition, Zenith Bank traded 133.2 million shares for N1.7 billion, Access Bank sold 35.2 million equities valued at N194.2 million, while UBA exchanged 22.8 million stocks for N114.9 million.
A look at the performance of stocks yesterday showed that Lafarge Africa was the worst performing stock, losing 65 kobo to close at N10 per share.
FBN Holdings lost 30 kobo to sell at N3.70 per unit, UBA fell by 30 kobo to N5.05 per share, Dangote Sugar also declined by 30 kobo to N9.85 per share, while SAHCO depreciated by 25 kobo to trade at N2.32 per unit.
On the other hand, the dividend declared by Julius Berger helped the construction company’s stocks to rise on Monday by N1.95 to N22.15 per share.
Zenith Bank, which paid dividend to its shareholders yesterday gained 90 kobo to settle at N12.80 per share, Union Bank, which is being rumoured to be acquired by Zenith Bank appreciated by 60 kobo to sell at N6.60 per share, Ekocorp rose by 50 kobo to N6 per share, while PZ Cussons grew by 30 kobo to N4.05 per share.
Business Post reports that the coronavirus ravaging the global economy has continued to make investors trade with caution. This will continue until the COVID-19 is no longer a threat or a cure is found.
