Activities maintain negative trend on NSE

Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday still on negative posture with the market indicators losing 0.12 per cent and value dropping by 54.72 per cent.

Our correspondent reports that the market capitalisation shed N17 billion or 0.12 per cent to close at N14.643 trillion as against N14.660 trillion on Friday.

Similarly, the All-Share Index lost 47.38 points or 0.12 per cent to close at 40,425.07 as against 40,472.45 achieved on Friday.

Forte Oil led the gainers’ table for the day, gaining N1.90 to close at N40.65 per share.

Unilever followed with a gain of 50k to close at N50.50, while Nigerian Breweries also appreciated by 50k to close at N123.70 per share.

Ecobank Transnational added 40k to close at N21, while UACN advanced by 35k to close at N15.85 per share.

Conversely, Flour Mills topped the losers’ chart, dropping by 95k to close at N34 per share.

Guaranty Trust Bank trailed with a loss of 45k to close at N43.50, while Stanbic IBTC also depreciated by 45k to close at N48.50 per share.

FBN Holdings was down by 30k to close at N11.05, while Custodian and Allied Insurance shed 25k to close at N5 per share.

In the same vein, the volume of shares transacted dropped by 22.62 per cent, while total value decreased by 54.72 per cent.

A breakdown of the activity chart indicated that Africa Insurance Company was the most active stock, trading 90 million shares worth N18.69 million.

Fidelity Bank followed with an account of 21.91 million shares valued at N48.95 million, while Diamond Ban traded a total of 20.52 million shares worth N33.23 million.

Guaranty Trust Bank exchanged 15.15 million shares valued at N664.90 million, while Access Bank sold 11.53 million shares worth N123.59 million.