Stocks Slide As Week’s Trading Commences


Activities at the Nigerian Stock Exchange (NSE) slowed down at week’s commencement, closing Monday’s transaction on a negative note.

Specifically, All-Share Index closed lower at 25,170.63 points, from 25,271.61 points traded on Friday, depreciating by 100.98 points or 0.4 per cent.

Also, NSE market capitalisation shed N32.29 billion, to close lower at N8.05 trillion, from N8.08 trillion traded by investors on Friday.

Investors traded a total of 301,414,947 shares, worth N1.84 bilion, in 5,046 deals, compared to 244,448,513 shares, valued at N1.52 billion which exchanged hands in 5,453 deals.

The volume of traded equities however, closed higher at 301,414,947 shares, adding 56,966,434 shares or 23.3 per cent to 244,448,513 shares traded on Friday.

Equity value also rose by 20.9 per cent or N317.55 million, to also close higher at N1.84 billion, from Friday share value of N1.52 billion.

Out of 132 companies that traded at the floor of the NSE, only 20 companies made gains in their transaction whiles 35 companies lost in their transaction. The price of shares of 77 companies remain unchanged.

Ecobank opened and closed at N3 and N3.15 respectively gaining 15 kobo per share to lead the gainers chart CAP, UBN and Transcorp followed with N1.54, 12 kobo and 5 kobo respectively.

The losers chart was led by May & Baker and Coastain afer losing 19 and 15 kobo(s) respectively.

At the sectoral level, the Banking  sub-sector shares were the most patronised with 134,494,897 shares worth N722.11 million, which exchanged hands in 2,277 deals, largely driven by the activities of UBN which traded 27,231,522 shares, valued at N69.2 million in 48 deals.