Exchange Slide At Week’s Opening


All the market indicators at the end of transactions on Monday slided at the Nigeria Stock Exchange (NSE), to start the week’s trading on a bearish note.

The trading was a reverse of last week’s closing, which was on a positive note after many weeks of frustrating closing.

Specifically, All-share Index closed lower at 23.711.90 points shedding 120.24 points from 23,832.14 points traded by investors on Friday at the Exchange.

Also, market capitalisation lost N38.45 billion, to close lower at N7.58 trillion, from N7.62 trillion traded on Friday.

Investors traded a total of 230,918,991 shares, worth N1.95 billion, in 4,216 deals, compared to 251,537,591 shares, valued at N2.1 billion, traded by investors in 5,314 deals.

The Banking sub-sector’s shares were the most active, with 197,055,947 shares, valued at N1.42 billion, in 2,694 deals.

The sub-sector’s activities were largely driven by the performance of Access Bank Plc, Diamond Bank Plc, UBA and Zenith Bank Plc which traded a total of 24,965,695; 30,836,956; 21,830,834 and 35,467,185 shares, worth N16.65; N154.34; N109.23 and N507.98 millions, in 176; 81; 240; and 325 deals respectively.