NSE Indices Record 0.42% Depreciation

• NSE Indices Record 0.42% Depreciation

Trading resumed on Monday at the Nigerian Stock Exchange on a bearish trend with the market indices dropping by 0.42 per cent amidst profit taking.

The All-Share Index dipped 111.04 points to close at 26, 217.18 against a 26, 328.22 due to losses recorded by some blue chips.

In the same vein, the market capitalisation, which opened at N9.058tn, shed N38bn to close at N9.020tn.

The market recorded a growth of 0.40 per cent last week on the back of a four-day upward trend.

Dangote Cement recorded the highest loss to lead the losers’ chart, dropping by N1.01 to close at N166 per share.

Guaranty Trust Bank trailed with a loss of 38k to close at N24. 97 and Oando lost 24k to close at N4.90 per share.

Stanbic IBTC was down by 18k to close at N17.30, while United Bank of Nigeria depreciated by 14k to close at N4.98 per share.

On the other hand, 7UP led the gainers’ table, growing by N5.40 to close at N113.40 per share.

Forte Oil followed with N2.12 to close at N74.00, while Eterna Oil gained 14k to close at N3.62 per share.

Okomu Oil appreciated by 8k to close at N44.18 and FBN Holdings added 6k to close at N3.50 per share.

AIICO Insurance was the toast of investors with a turnover of 56.81 million shares worth N34.08m.

Transcorp followed with a total of 16.09 million shares valued at N12.61m, while UBA traded 7.76 million shares worth N38.94m.

FBN Holdings sold 7.65 million shares valued at N26.64m and Fidelity Bank traded 7.45 million shares worth N6.64 million.

Also, the volume of shares traded closed lower as investors bought and sold 143.52 million shares valued at N755.89m in 2,139 deals.

This was against a turnover of 237.79 million shares worth N2.19bn transacted in 2,725 deals on Friday.