NSE indices drop by 0.40%

Weekly activities on the Nigerian Stock Exchange (NSE) opened on Monday on a downward note due to price losses by some highly capitalised stocks.

The market indices dropped by 0.40 per cent.

Newsverge reports that Mobil Oil led the price losers’ table with a loss of N5 to close at N280 per share.

Forte Oil trailed with a loss of N2.58 to close at N49.09, while Dangote Cement was down by N1 to close at N160 per share.

The All-Share Index lost 101.38 points or 0.40 per cent to close at 25,136. 63 against 25,238.01 achieved on Friday.

Also, the market capitalisation, which opened at N8.734 trillion, lost N35 billion or 0.40 per cent to close at N8.699 trillion.

Conversely, Total led the price gainers’ table with a gain of N8 to close at N280 per share.

Guinness followed with a gain of N1.97 to close at N67.78, while UACN appreciated by 54k to close at N13.74 per share.

GTBank grew by 50k to close at N25, while Ecobank Transnational Incorporated (ETI) went up by 47k to close at N10.50 per share.

The volume of shares traded dropped by 44.82 per cent as investors staked N681.16 million on 135.40 million shares in 2,909 deals.

Newsverge reports that this was in contrast to the 245.9 million shares valued at N2.31 billion traded in 3,260 deals on Friday.

Diamond Bank drove the volume of shares traded with 50.54 million shares worth N40.97 million.

FBNHoldings came second with 13.20 million shares valued at N39.67 million, while Fidelity Bank traded 9.56 million shares worth N7.84 million.

Access Bank traded 8.43 million shares valued at N56.65 million, while Zenith sold 7.24 million shares worth N95.28 million.