Nigerian Stocks Shed 0.02% as Jaiz Bank Trades 227m Shares

By Modupe Gbadeyanka

Transactions on the floor of the Nigerian Stock Exchange (NSE) kicked off the new week on a bearish note, depreciating marginally by 0.02 percent, leaving the year-to-date return to 37.42 percent.

The All-Share Index (ASI) shed 8.76 points to close at 36,930.83 points, while the market capitalisation declined by N3 billion to settle at N12.8 trillion.

However, the market breadth closed positive with 23 price gainers at the close of business in contrast to 20 price losers.

Total Plc led the price losers on Monday, losing N11 to close at N225 per share, and 7up followed with N2 of its share value lost to end at N88 per share.

International Breweries declined by N1.65k to finish at N45.20k per share, Flour Mills of Nigeria went down by 97k to settle at N34.50k per share, and UAC of Nigeria slumped by 62k to close at N18.38k per share.

On the flip side, Guinness Nigeria rose by N2 to finish at N102 per share, while GTBank grew by 54k to close at N41.75k per share.

United Capital advanced by 22k to end at N3.38k per share, Eterna progressed by 20k to settle at N4.35k per share, and Cadbury improved by 17k to close at N10.28k per share.

Though the volume of shares transacted on the floor of the NSE increased today, the value depreciated.

A total of 466.5 million shares were traded in 4,274 deals on Monday worth N2.9 billion against 361 million shares exchanged in 4,396 deals last Friday valued at N3.7 billion.

Business Post reports that there was a huge interest in the shares of Jaiz Bank, trading the highest volume of shares on Monday, exchanging 226.8 million shares worth N133.8 million.

It was trailed by FBN Holdings, which traded 43.5 million shares worth 305 million, and Transcorp sold 27.2 million shares for N40.6 million.

African Alliance Insurance Company exchanged 20 million shares at N10 million, while Diamond Bank transacted 18.2 million shares at N21 million.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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