Exchange Lulls At Week’s Opening …as Index Sheds 0.95%

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Activities at the Nigerian Stock Exchange Monday dragged, as All-Share Index (ASI) shed 216.48 points or 0.95 percent from 22,775.55 points traded Friday to close lower at 22.559.07 points.

The weekend transactions that rose to close last week’s trading higher all went down especially index and market capitalisation.

Market capitalisation lost N69.25 billion, from N7.29 trillion traded by investors on Friday, to close also lower at N7.22 trillion.

Investors traded a total of 379,301,624 shares, worth N3.13 billion in 5.562 deals, as against investors’ 254,070,708 shares, valued at N1.55 billion that exchanged hands in 3,184 deals on Friday.

The volume of traded equities however rose by 49.3 percent or 125, 230,916 shares, to close higher at 379,301,624 shares, from 254,070,708 shares traded on Friday.

Also, share value doubled, after gaining N1.58 billion or 101.9 percent to close higher at N3.13 billion from N1.55 billion traded on Friday.

Meanwhile, at the sectoral level, the Banking sub-sector shares were the most patronised with 215,645,906 shares, valued at N1.81 billion traded in 3.392 deals.

The sub-sector performance was largely driven by the activities of First Bank, Guaranty Trust Bank and United Bank for Africa, which traded 34, 276, 553; 67,043,102 and 23,589,512 shares respectively worth N382.45; N882.40; N107.06 millions traded in 856; 1,060 and 338 deals, respectively.