x

NSE: Indices drop further by 0.14%

The Nigerian Stock Exchange (NSE) market indicators on Tuesday recorded further depreciation, dropping by 0.14 per cent.

Specifically, the All-Share Index which opened at 21,330.79 lost 30.32 points or 0.14 per cent to close at 21,300.47.

Similarly, the market capitalisation dipped N16 billion or 0.14 per cent to close at N11.100 trillion compared with N11.116 trillion posted on Monday.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Zenith Bank, UACN, Guaranty Trust Bank, Lafarge Africa and Access Bank.

Analysts at Afrinvest Limited said, “We expect the bearish sentiment to continue, however, there exists bargain hunting opportunities in the equities market.”

Also, Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said that market outlook would remain unstable during the lockdown period and beyond due to high volatility in developed and developing markets.

Omordion noted that bouquet of stimulus packages had failed to uplift the market.

“This is because there is no clear road map for implementing these fiscal and monetary measures to ensure that they are devoid of the usual bottlenecks”, he said.

Market breadth closed negative with nine gainers in contrast with 11 losers.

Jaiz Bank led the losers’ chart in percentage terms, with a loss of 9.43 per cent, to close at 48k per share.

Ikeja Hotel came second with 9.09 per cent to close at 90k, while Courteville dipped 4.76 per cent to close at 20k per share.

Sterling Bank trailed with 4.17 to close at N1.15, while Transcorp shed 2.94 per cent to close at 66k per share.

On the other hand, GlaxoSmithKline recorded the highest to lead the gainers’ pack in percentage terms, gaining 10 per cent, to close at N4.40 per share.

May and Baker followed with a 9.74 per cent gain to close at N2.14, while NEM Insurance rose by 9.52 per cent to close N2.07 per share.

Wema Bank rose by 6.38 per cent to close at 50k, while Unilever increased by 4.76 per cent to close at N11 per share.

Transactions in the shares of Sterling Bank topped the activity chart with 303.46 million shares valued at N348.75 million.

Zenith Bank followed with 29.65 million shares worth N350.397 million, while Guaranty Trust Bank traded 16.87 million shares valued at N301.16 million.

United Bank for Africa accounted for 14.49 million shares worth N72.58 million, while FCMB Group transacted 9.65 million shares valued at N14.41 million.

In all, investors staked N1.72 billion on 422.01 million shares exchanged in 3,448 deals.

This was against 466.91 million shares worth N1.93 billion achieved in 3,659 deals on Monday. (NAN)

Hot this week

Gov Alia Dissolves Lobi Stars FC Board, Management to Reposition Club for Better Performance

By Isaac Kertyo, MakurdiBenue State Governor, Rev. Fr. Hyacinth...

Kogi State Polytechnic Urges Prosecution of Staff Over Alleged Salary Fraud

By Noah Ocheni, LokojaThe Management of Kogi State Polytechnic,...

Bingham University, commissions multipurpose laboratory, office complex

By Israel Adamu,JosBingham University, Karu,on Thursday achieved...

Principal Urges Parents to Monitor Children’s Activities to Curb Social Vices

By Noah Ocheni, LokojaThe Principal of GYB Model Science...

CHAIN Urges Federal Government to Adopt National Policy on Religious Freedom and Equal Protection

By Achadu Gabriel, KadunaThe Christian Awareness Initiative of Nigeria...

North-Central APC Forum Backs Mutfwang, Rejects Plateau APC Leaders’ Move to Block Defection

By Israel Adamu, JosThe North-Central All Progressives Congress (APC)...

Nasarawa Farmers Triple Rice Yields with Climate-Smart Farming Innovations

By Abel Zwanke, LafiaFarmers in Nasarawa State have recorded...

Ex-Liverpool Star Explains Why Arsenal Won’t Win the Premier League This Season

Arsenal’s blistering start to the season has reignited hopes...

Ruben Amorim’s Tactical Shift Could Earn Manchester United £24 Million

Ruben Amorim’s bold decision to deploy a striker-less formation...

NGO Trains Plateau Judges, Security Operatives on Enforcement of Child Rights Law 2005

By Israel Adamu, JosThe Child Protection Network (CPN), Plateau...

Related Articles

Popular Categories

spot_imgspot_img