NSE opens February with 0.13% loss

The nation’s bourse resumed trading on Monday on a negative trend dropping by 0.13 per cent due to profit taking in Nestle and 27 other stocks.

Specifically, the All-Share Index lost 54.76 points or 0.13 per cent to close at 42,357.90 in contrast with 42,412.66 on Friday.

Accordingly, the month-to-date return settled at -0.1 per cent, while the year-to-date gain moderated to 5.2 per cent.

Also, the market capitalisation declined by N29 billion or 0.13 per cent to close at N22.157 trillion when compared with N22. 186 trillion posted on Friday.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Julius Berger, Flour Mills of Nigeria, Vitafoam and Access Bank.

Royal Exchange led the losers’ chart in percentage terms, losing 10 per cent to close at 36k per share.

It was trailed by Guinea Insurance followed 9.09 per cent to close at 20k, while African Alliance Insurance shed eight per cent to close at 23k per share.

Julius Berger dipped 7.28 per cent to close at N21, while Multiverse shed 4.55 per cent to close at 21k per share.

Conversely, Honeywell Flour Mill dominated the gainers’ chart in percentage terms gaining 10 per cent to close at N1.43 per share.

Champion Breweries followed 9.97 per cent to close at N3.42, while McNichols rose by 9.80 per cent to close at 56k per share.

Wapic Insurance rose by 9.26 per cent to close at 59k, while Jaiz Bank appreciated by 9.23 per cent to close at 71k per share.

Also, the total volume traded declined by 12.4 per cent as investors bought and sold 586.81 million shares, worth N6.02 billion traded in 7,611 deals.

This was in contrast with 669.88 million shares valued at N6.59 billion exchanged in 6,663 deals on Friday.

Transactions in the shares of Union Bank of Nigeria topped the activity chart with 79.59 million shares valued at N469.64 million.

Transcorp followed with 61.76 million shares worth N64.68 million, while United Bank for Africa traded 44.31 million shares valued at N406.72 million.

Access Bank accounted for 40.19 million shares worth N371.69 million, while FBN Holdings transacted 37.51 million shares valued at N282.35 million.