NSE ALSI down by 0.15% following GDP contraction

The Nigerian Stock Exchange reacted negatively to the report from the National Bureau of Statistics as the leading indicator All Shares Index shrinks by 0.15% on Monday.

The National Bureau of Statistics (NBS) on Monday released a report showing that the nation’s economy contracted by 2.24% year on year in the third quarter of 2016 as the effect of economic recession bites harder on economy.

The main indicator, All-share Index which opened at 25,537.54 lost 38.54 points or 0.15 per cent to close at 25,499.00.

The market capitalisation also depreciated by N14 billion to close at N8.777 trillion compared with N8.791 trillion achieved on Friday.

A total of 112,437,068 units of stocks valued at N858.53m were traded in 2,532 deals on the day.

Flour Mill led the advancing party as it gains 80k or 4.94 percent to close at N17. Transcorp Hotel closed with N5.51 having gained N0.26 or 4.95 percent.

African Prudential Registrars advanced by N0.10 representing 3.92 percent as it closed with N2.65. Cutix Plc gained N0.09 or 4.76 percent to finish the day with N1.98. Dangote Flour complete the top 5 gainers chart as it grew by N0.07 to close at N3.80 or 1.88 better than Friday’s position.

Mobil led the journey southward as depreciated by 4.99 or 2.56 percent to close at N190.01, Dangote Sugar also lost 32k to close at N6.16 representing 4.94 percentage loss. International Breweries ended the day on N19.50 having lost 30k or 1.52 percent against N19.80 which it closed with on Friday.

Other declining stocks include Stanbic IBTC which shed 30k to close at N15.50 which means 1.9 percent loss from N15.80 it closed with on Friday. Ecobank Transnational Incorporation declined from N10 to N9.80k. That represents 2 percent loss.

Banking sector dominated the most traded stocks. Transcorp Hotel was most traded stock with 19.89m shares valued at N13.56m. Skye Bank sold 14m shares valued at N7.13m, while 10.1m Diamond Bank shares worth N9.24m exchanged hands.

FCMB sold 9m shares worth N9.38m and 8.50m UBA shares valued at N36.29m also exchanged hands to make up the top five traded stocks.