NSE index down by 0.38% as banking stocks fail to show

The financial sector was in bearish mode on the first trading day of the week forcing the All Share Index of the Nigerian Stock Exchange to close in the negative.

While the banking sector shares were the most traded on Monday, their impact only saw the ALSI headed southwards by 0.38 percent .

Nigerian Breweries Plc was the biggest loser of the day having shed N6.25 to close at N118.75 which represents 5 percent loss.

Stanbic Plc shrank by 4.49 percent loosing 80 kobo to close the day at N17, while NASCON stocks closed at N7.03 with a loss of 37 kobo and percentage loss of -5 to make the top three.

On advancing side, Seplat Oil closed with N380 and a percentage increase of 1.33 having gained N5 above the last price. Betaglass Plc gained N1.65 by moving from N33.07 from last week to N34.72.

Dangote Cement continued a smooth run upward as the shares grew by 90 kobo from N167.11 to N168.01. That leaves us with 0.54 percentage increase.

A total of 26 million GTB shares valued at about N630.20 million were traded. This is closely followed by UBA trading 25.85 million shares with a value of N124 million.

Etranzact traded 20.43 million shares with the value put at N102.18 million. Fidelity Bank had 14.70 shares traded and the value is put at N12.44 million. FBN Holdings had 9.87 million shares sold at N31.3 on the first working day of the week.