NSE: Trading resumes on negative trend with 0.75% loss

Activities on the Nigerian Stock Exchange (NSE) resumed for the week on Monday still in red with the indices dropping by 0.75 per cent, while value shed 44.41 per cent.

Our correspondent reports that the market capitalisation plummeted by N107 billion or 0.75 per cent to close at N14.137 trillion as against 14. 244 trillion on Friday.

Similarly, the All-Share Index which opened at 39,323.62, dipped 295.11 points or 0.75 per cent to close at 39,028.51, amid profit taking.

A breakdown of the price movement chart showed that Lafarge Africa topped the laggards’ chart with a loss of N2 to close at N38.50 per share.

MRS trailed with a loss of N1.80 to close at N34.25, while Guaranty Trust Bank depreciated by 95k to close at N4 per share.

Zenith International Bank was down by 55k to close at N26.10, while FBN Holdings lost 45k to close at N9.25 per share.

On the other hand, Dangote Cement Industries led the gainers’ table for the day, increasing by N1 to close at N245 per share.

Flour Mills followed with a gain of 60k to close at N30.10, while Eterna Oil appreciated by 26k to close at N5 33 per share.

Ikeja Hotel gained 12k to close at N2 .70, while Dangote Sugar Refinery advanced by 5k to close at N16.55 per share.

Similarly, the volume of shares traded closed lower by 24.89 per cent, while value of shares dropped by 44.41 per cent.

Specifically, investors bought and sold 222.32 million shares valued at N1.64 bilion compared with a turnover of 295.99 million shares worth N2.95 billion transacted in 4,911 deals on Friday.

AIICO Insurance was the most active stock, trading 40.75 million shares worth N23.63 million.

Access Bank followed with an account of 27.41 million shares valued at N292.08 million, while FBN Holdings sold 26.53 million shares worth N245.61 million.

Fidelity Bank traded 12.54 million shares valued at N22.69 million, while United Bank for Africa traded 10.17 million shares worth N105.39 million.