Nigerian Equities Resume Trading with N143b Loss
By Dipo Olowookere
Transactions kicked off on Monday on the floor of the Nigerian Stock Exchange (NSE) on a bad note with the market closing in the red zone.
Profit taking by investors plunged the equity market down yesterday by 0.97 percent with the year-to-dare returns shrinking to 5.99 percent.
The All-Share Index (ASI) went down by 395.33 points to close at 40,533.37 points, while the market capitalisation depreciated by N142.8 billion to finish at N14.641 trillion.
Business Post reports that Monday’s performance was attributed to losses recorded in the consumer goods and the oil gas sectors, which went down by 0.01 percent and 0.72 percent respectively.
Mobil Oil Nigeria was the heaviest price loser yesterday, losing N10 of its share value to settle at N190 per share.
It was followed by Nigerian Breweries, which went down by N4 to close at N126 per share, and Presco, which declined by N2 to finish at N70 per share.
Access Bank lost 25k to end at N11.20k per share, while UAC Prop depreciated by 22k to settle at N2.58k per share.
At the other side, Seplat put up a good performance at the market, gaining N27.60k to close at N725.90k per share.
It was trailed by Nestle Nigeria, which appreciated by N25k to close at N1410 per share, and Unilever Nigeria, which went up by N2.50k to end at N54 per share.
GlaxoSmithKline improved by N1.35k to finish at N31.35k per share, while Oando increased by 65k to wrap up the day at N7.55k per share.
But despite the poor performance of the market yesterday, there was an improvement in the volume and value of transactions by investors.
The number of shares traded on the floor of the NSE improved by 15.18 percent just as the value increased by 53.30 percent.
A total of 192.5 million equities were exchanged by investors on Monday in 3,917 deals worth N3.1 billion compared with the 167.1 million shares transacted last Friday in 3,453 deals valued at N2 billion.
However, the trades were dominated by the Financial Services sector, which led the activity chart with 135.5 million shares sold for N2.3 billion, while the oil and gas industry followed with 23.5 million equities traded for N108 million.
GTBank sold the highest volume of shares at the stock market on Monday, exchanging a total of 37.6 million shares valued at N1.7 billion.
Japaul Oil followed with 21.4 million units sold for N10.3 million, while Fidelity Bank traded 13.2 million equities for N32.6 million.
Furthermore, Zenith Bank transacted 11.1 million shares for N293.2 million, while UBA sold 10.1 million units for N109.5 million.