26 Losers Emerge as Equities Plunge by N101bn

stock market
  • 26 Losers Emerge as Equities Plunge by N101bn

The Nigerian equities market recorded a N101bn drop on Monday as 26 stocks recorded losses at the close of trading on the floor of the Nigerian Stock Exchange.

A total of 114.768 million shares valued at N2.172bn exchanged hands in 3,232 deals; and there were 21 gainers.

The NSE market capitalisation fell to N12.292tn from N12.393tn as the All-Share Index closed at 35,664.94 basis points from 35,957.24 basis points recorded on Friday.

The bourse started the week in the red zone as the NSE ASI shed 0.81 per cent bringing the year-to-date return to 32.71 per cent. Market turnover and volume of transactions declined by 29.51 per cent and 24.73 per cent apiece

Airline Services and Logistics Plc recorded the highest share price appreciation of 4.87 per cent to close at a year-high of N6.25 at the close of trades for the day. This was followed by Transnational Corporation of Nigeria Plc, United Capital Plc, Oando Plc and Honeywell Flour Mill Plc, which appreciated by 4.76 per cent, 4.75 per cent, 3.69 per cent and 2.93 per cent.

However, Okomu Oil Plc emerged as the top loser having shed 4.92 per cent to close the day at N59.90. Livestock Feeds Plc, Jaiz Bank Plc, Julius Berger Nigeria Plc and Learn Africa Plc followed, depreciating by 4.49 per cent, 4.23 per cent, 4.11 per cent and 3.90 per cent, accordingly.

The sector performance as measured by NSE sector indices showed that only the NSE oil/gas index closed positively, appreciating by 0.68 per cent.

But the NSE banking, the NSE food/beverages, the NSE insurance and the NSE industrial goods indices declined respectively by 0.40 per cent, 0.37 per cent, 0.13 per cent and 1.01 per cent.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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