Trading Sustains Negative Trend On NSE, Down By 0.38%

Trading activities at the Nigerian Stock Exchange (NSE) on Monday opened on a bearish trend with the market indices dropping by 0.38 per cent due to losses suffered by major blue chips.

It was reported that the All-Share Index shed 95.73 points or 0.38 per cent to close at 25, 244.29 compared with 25, 340.02 posted on Friday.

Similarly, the market capitalisation which opened at N8.769 trillion dipped N33 billion or 0.38 per cent to close at N8.736 trillion.

Market analysts attributed the persist lull in the market to negative economic indices which had affected investors’ confidence and movement of funds to the fixed income securities with higher yields.

NAN reports that Nigerian Breweries recorded the highest loss for the day, shedding N6.25 to close at N118.75 per share.

Stanbic IBTC trailed with a loss of 80k to close at N17 and NASCON was down by 37k to close at N7.03 per share.

Ecobank Transnational Incorporated declined by 30k to close at N9.50, while CCNN dropped by 22k to close at N4.28 per share.

On the other hand, Seplat led the gainers’ table growing by N5 to close at N380 per share.

Beta Glass followed with a gain of N1.65 to close at N34.72, while Dangote Cement gained 90k to close at N168.01 per share.

PZ Industries appreciated by 55k to close at N11.59  and Ashaka Cement grew by 39k to close at N11.25 per share.

Guaranty Trust Bank emerged the most traded equity with an exchange of 26 million shares valued at N630.20 million.

It was followed by United Bank for Africa followed with 25.86 million shares worth N124.06 million and Etranzact sold 20.44 million shares valued at N102. 25 million.

Fidelity Bank sold 14.7 million shares worth N12.45 million and FBN Holdings traded 9.89 million shares valued at N31.30 million.

In all, investors bought and sold 141.92 million shares worth N1.38 billion transacted by investors in 2,386 deals.

This was against 201.73 million shares valued at N2.59 billion achieved in 2,604 deals on Friday.

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