By Dipo Olowookere
Profit-taking in consumer goods and industrial goods deflated the Nigerian Stock Exchange (NSE) by 0.23 per cent on Monday.
The decline suffered by the market occurred despite the positive sentiment witnessed during the session as 35 stocks appreciated in price as against the 22 price losers.
The weakening of the market was caused by the sell-off in Dangote Cement and others. The cement stock went down by N2.40 to close at N234.60 per unit.
Flour Mills depreciated by N1.80 to settle at N31 per share, Guinness Nigeria declined by 50 kobo to sell for N18.50 per share, FBN Holdings depleted by 30 kobo to N7.30 per unit, while NASCON deflated by 30 kobo to trade at N17.25 per share.
Business Post reports that BOC Gases continued its recent bull run yesterday, rising by N1.25 to finish at N13.77 per unit and was trailed by Cadbury Nigeria, which grew by 95 kobo to sell at N10.45 per unit.
GTBank appreciated by 60 kobo to close at N33.65 per share, Livestock Feeds gained 21 kobo to quote at N2.32 per unit, while Lafarge Africa appreciated by 20 kobo to trade at N24 per share.
At the session, investors traded 738.5 million stocks worth N4.2 billion in 7,396 deals in contrast to the 666.6 million shares worth N6.4 billion traded in 6,980 deals at the previous session, representing 10.79 per cent rise in the trading volume, 34.76 per cent decline in the trading value and 5.96 per cent increase in the number of deals.
Japaul was investors’ delight yesterday as it closed as the most active stock, trading 92.4 million units valued at N145.8 million, followed by Universal Insurance, which exchanged 51.8 million units worth N10.4 million.
Transcorp traded 43.2 million equities for N46.2 million, FBN Holdings sold39.8 million stocks for N298.3 million, while Axa Mansard Insurance transacted 39.2 million shares valued at N63.9 million.
A look at the performances of the sectors showed that the consumer goods counter depreciated by 0.62 per cent, while the industrial goods space declined by 0.43 per cent.
However, the insurance sector appreciated by 5.98 per cent, the energy space grew by 0.02 per cent, while the banking index slightly moved higher by 0.01 per cent.
Due to the impact of the consumer goods and the industrial goods sectors on the market yesterday, the All-Share Index (ASI), at the close of transactions, depleted by 93.76 points to 41,082.38 points from 41,176.14 points, while the market capitalisation reduced by N39 billion to N21.491 trillion from N21.530 trillion.
