NSE resumes trading week with 0.22% loss

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NSE resumes trading week with 0.22% loss
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Equity trading on The Nigerian Stock Exchange (NSE) resumed the first trading week on a bearish note with key performance indicators dropping by 0.22 per cent, amid profit taking in 19 stocks.

Specifically, the All-Share Index, which opened the week at 38,648.48 lost 86.64 or 0.22 per cent to close at 38,561.84.

Consequently, the month-to-date and year-to-date losses increased to 3.1 per cent and 4.2 per cent, respectively.

Also, the market capitalisation dipped N46 billion to close at N20.175 trillion from N20.221 trillion recorded on Friday.

The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Nigerian Breweries, Guaranty Trust Bank, Guinness Nigeria, Dangote Sugar Refinery and International Breweries.

The market closed negative with 19 laggards against 17 gainers.

Regency Alliance Insurance led the losers’ chart in percentage terms, losing 9.09 per cent to close at 30k per share.

Livestock Feeds followed with a loss of 8.50 percent to close at N1.83, while Nigerian Breweries dipped 5.34 percent to close at N47 per share. Lasaco Assurance and Jaiz Bank shed 4.62 percent each to close at N1.24 and 62k per share, respectively.

Conversely, Wapic Insurance dominated the gainers’ chart in percentage terms with a growth of 10 percent to close at 55k per share.

Northern Nigeria Flour Mills trailed with a gain of 9.73 percent to close at N6.20, while Smart Products grew by 8.33 percent to close at 26k per share. NEM Insurance rose by 7.88 percent to close at N2.19, while Berger Paints appreciated by 7.44 percent to close at N6.50 per share.

At the close of trading for the day, the volume of shares declined by 37.2 percent as investors bought and sold184.53 million shares worth N2.52 billion traded in 3,527 deals in contrast with 293.97 million shares valued at N3.77 billion achieved in 3,760 deals on Monday.

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