Negative trading continues at the Nigerian Stock Exchange
Transactions at the Nigerian Stock Exchange (NSE) resumed for the week today, as the public holiday which was declared by the Federal Government of Nigeria in commemoration of the Easter celebrations which held on the 14th and 17th of April, 2017 came to an end.
Transactions ended on a negative trend, with the market indices dropping by 1.19 per cent. The All-Share lost 302.94 points or 1.19 per cent to close at 25,207.07 against 25.510.01 posted on Monday.
Market capitalisation which opened at N8.827 trillion shed N104 billion points or 1.19 per cent to close at N8.722 trillion as only 31 companies’ stock prices appreciated against 18 companies that recorded value losses, amidst the unchanged prices of 128 equities.
In all, investors bought and sold 254.9 million shares worth N2.45 billion traded in 2,854 shares. This was in contrast with 1.19 billion shares valued N6.03 billion exchanged in 11,820 deals on Monday.
Nestle Plc topped the laggards’ table, dropping by N21.93 to close at N728.07 from N750 per share. It was trailed by Dangote Cement Plc, with N4 to close at N160 from N164, while Ecobank Transnational Incorporated lost 41 kobo to close at N7.79 from N8.2 per share. Oando Plc dipped 27 kobo to close at N5.22 from 5.59 and United Bank of Nigeria Plc lost 26 kobo to close at N4.98 from 5.24 per share.
Conversely, Seplat Petroleum Development Company Plc Industries led the gainers’ table with a N10 margin to close at N400 from N390 per share. Forte Oil Plc gained 5k to close at N44.5 from N44, while Dangote Flour Plc added 18kobo to close at N4.4 from N4.22per share.
FBN Holdings Plc (FBNH) improved by 16kobo to close at N3.36 from N3.2 and Stanbic IBTC Plc value-added 14kobo to close at N18.9 from N18.76per share.
NSE reports that Diamond Bank Plc emerged the most traded stock, exchanging 51.80 million shares worth N42.32 million. Guaranty Bank Plc. sold 40.88 million shares valued N1 billion, while FBN Holdings traded 20.66 million shares worth N67.81 million. United Bank of Nigeria Plc sold 20.19 million shares valued N106.75 million and Fidelity Bank Plc, accounted for 19.12 million shares valued N15.85 million.