Stanbic, Nigerian Breweries, BUA Weigh on Stock Market

Stock Market Declines by N38 billion on Monday

The Nigerian Stock Exchange closed in the red on Monday as 26 stocks closed negative against 11 that recorded gains.

The NSE All-Share Index depreciated by 0.29 percent or 72.83 basis points from 24,826.75bps recorded on Friday to 24.753.93 bps on Monday.

While market capitalisation of listed equities declined by N38 billion from N12.95 trillion to settle at N12.913 trillion.

On activity level, investors traded 124.688 million shares valued at N1.318 billion in 3,843 deals during the trading hours of Monday.

In terms of volume traded, Japaul Oil led with 13.610 million shares valued at N3.303 million. This was followed by Guaranty Trust Bank’s 11.347 million shares worth N260.464 million.

Zenith Bank, UBA and Chams added 10.426 million, 7.972 million and 7.856 million shares valued at N168.808 million, N50.480 million and N1.849 million, respectively.

Nestle led top gainers with 7.72 percent gain to close at N1179 per share while Fidson added 7.49 percent to settle at N3.3 per share.

Afriprud, Sterling Bank and FCMB did 5.25 percent, 6.67 percent and 4.65 percent to close at N4.21 per share, N1.28 per share and N1.8 per share.

Top losers were Stanbic with 8.33 percent decline, Nigerian Breweries – 2.63 percent, Bua Cement with 2.27 percent decline, Ardova with 5.09 percent depreciation and Flour Mill 3.43 percent decline.