Nigerian Stock Market Opens Week Bearish With N136b Loss

By Dipo Olowookere

Equities market closed the first trading day of the new week on Monday on a negative note, going down by 0.85 percent.

Business Post reports that profit taking activities at the stock market as well as the loss recorded by Dangote Cement mainly contributed to slip, shrinking the Year-to-Date return to 15.74 percent.

But the time market activities were brought to an end today, the market capitalisation depreciated by N135.8 billion to finish at N15.884 trillion, while the All-Share Index (ASI) went down by 378.27 points to close at 44,261.72 points.

The volume and value of stocks traded by investors on Monday depreciated as a total of 426.9 million shares worth N2.8 billion exchanged hands today in 5,741 deals compared with 535.3 million equities valued at N3.6 billion transacted at the last trading session in 6,054 deals.

FCMB was the most traded stocks at the market today, exchanging a total of 101.5 million shares worth N303.3 million.

Skye Bank sold 48.3 million equities valued at N66.4 million, while Diamond Bank traded 31.5 million shares for N100.2 million.

In addition, Transcorp transacted 27.7 million shares for N63.5 million, while AIICO exchanged 27.6 million equities worth N24.3 million.

On the price movement chart, Dangote Cement was the biggest price loser, depreciating by N8 to close at N270 per share.

It was followed by Forte Oil, which went down by N2.40k to finish at N46.5k per share, and Julius Berger, which fell by N1.35k to close at N28.65k per share.

Lafarge lost N1 to settle at N53 per share, while Cadbury Nigeria reduced by 50k to end the day at N15.50k per share.

On the other hand, Beta Glass closed the day at the biggest price gainer, appreciating by N3.10k to finish at N65.45k per share.

It was followed by Zenith Bank, which gained 70k to settle at N32.65k per share, and PZ Cussons, which rose by 55k to end at N23.65k per share.

Nigerian Breweries went up today by 50k to close at N145 per share, while Dangote Sugar advanced by 35k to finish at N21 per share.