Nigerian stock market opens with 0.83% loss

nigerian stock market
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Trading activities on the floor of the Nigerian Stock Exchange (NSE) market yesterday opened the week on the nega- tive territory, as the overall performance measures, NSE ASI and market capitalization both fell by 0.83 per cent. The downswing according to market watchers was due to sell off that had pervaded the local bourse lately.

Consequently, the All-Share Index dropped by 215.45 basis points or 0.83 per cent from 25,802.54 index points last Friday to close at 25, 587.09, while the market capitalisation of equities depreciated by N74 billion or 0.83 per cent to close at N8.818 trillion from N8.892 trillion.

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Further analysis of the day’s trading showed that United Capital Plc topped the day’s gainers’ table with 4.79 per cent to close at N3.72 per share, while Livestock Feeds Plc followed with four per cent to close at 78 kobo per share. AIICO Insurance Plc added 1.72 per cent to close at 59 kobo per share.

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On the flip side, UAC-Property Plc led the losers’ chart with a drop of 9.27 per cent to close at N2.25 per share. Airline Services Plc shed 9.13 per cent to close at N2.39 per share.

GSK Plc followed with five per cent to close at 14.25 per share

On the activity chart, banking sub-sector of the financial services segment dominated in volume terms with 44.5 million shares exchanged in 791 deals.

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The sub sector was enhanced by the activities in the shares of Fidelity Bank Plc and UBA Plc. Premium sub-sector boosted by the activities on the shares of Zenith Bank Plc and FBNH Plc followed with 37.8 million units traded in 477 deals. In all, investors traded a total of 152.4 million shares exchanged in 2,706 deals.

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