Guinness, Vitafoam, Red Star Top Losers, Index Appreciates

Forex Market
  • Guinness, Vitafoam, Red Star Top Losers, Index Appreciates

Guinness Nigeria Plc, Vitafoam Nigeria Plc and Red Star Express Plc emerged the top three losers on Monday at the close of trading on the floor of the Nigerian Stock Exchange, as the All-Share Index appreciated marginally.

The equities market began the week on a positive note, as ASI advanced by 0.01 per cent, bringing the year-to-date return of the index to -10.12 per cent.

However, volume traded declined by 74.89 per cent, while market turnover advanced by 78.78 per cent. Market breadth was negative as 15 stocks advanced against 25 decliners.

The NSE market capitalisation rose to N8.856tn from N8.855tn, while the ASI closed at 25,743.03 basis points from 25,740.83 basis points.

A total of 175.058 million shares worth N3.144bn were traded in 3,048 deals.

Forte Oil Plc led the gainers of the day after a share price increase of 10.24 per cent to N71.94. Other top gainers were Total Nigeria Plc, Oando Plc and Transnational Corporation of Nigeria Plc, which appreciated by 10.11 per cent, 7.80 per cent and 7.04 per cent, respectively.

Sector performance, as measured by the NSE indices, showed that the oil and gas sector and food/beverages sector rose by 3.67 per cent and 0.04 per cent, respectively.

However, the industrial, insurance and banking sectors declined by 1.45 per cent, 1.16 per cent and 0.57 per cent, respectively.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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