x

NSE market indices open week with 1.05% loss

The Nigerian equities market resumed trading for the week on Monday still on a negative trend with the market indices nosediving by 1.05 per cent.

Speficially, the All-Share Index lost 294.90 points or 1.05 per cent to close at 27,772.19 compared with 28,067.09 achieved on Friday.

Also, the market capitalisation dipped N154 billion or 1.05 per cent to close at N14.464 trillion in contrast with N14.618 trillion posted on Friday.

Consequently, the month-to-date declined to 3.71 per cent, while Year-to-Date moderated to 3.47 per cent.

The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Nestle Nigeria, MTN Nigeria, Lafarge Africa, Guaranty Trust Bank and FBN Holdings.

Analysts at Afrinvest Limited stated that “We believe earnings releases will dictate performance this week, however, we are not optimistic about the market.”

United Capital Plc, however, noted that: “This week, we expect the market to remain half-hearted as seen in the past few weeks as earnings reports failed to sway investors.”

Nestle led the losers’ chart in percentage terms, dropping by 10 per cent, to close at N1,242 per share.

Linkage Assurance followed with a loss of 9.68 per cent to close at 56k, while May and Baker depreciated by 6.91 per cent to close at N2.02 per share.

Oando shed 4.17 per cent to close at N3.45, while Jaiz Bank dropped 2.90 per cent to close at 69k per share.

Conversely, Sovereign Trust Insurance led the gainers’ table in percentage terms, increasing by 10 per cent, to close at 22k per share.

Trans Nationwide Express trailed with 9.88 per cent to close at 89k, while NPF Micro Finance Bank appreciated by 9.82 per cent to close at N1.23 per share.

Prestige Assurance increased by 9.26 per cent to close at 59k, while Japaul Oil and Maritime Services appreciated by 9.09 per cent to close at 24k per share.

In the same vein, the total volume of shares traded declined by 34.14 per cent with an exchange of 200.16 million shares worth N1.92 billion exchanged in 3,487 deals.

This was in contrast with a total of 303.93 million shares valued at N6.39 billion traded in 4,343 deals on Friday.

Transactions in the shares of FBN Holdings topped the activity chart with 35.91 million shares worth N212.06 million.

Transcorp sold 24.63 million shares valued at N23.58 million, while Zenith Bank sold 18.57 million shares valued at N369.05 million.

UACN traded 14.16 million shares worth N120.22 million, while Fidelity Bank transacted 11.73 million shares worth N24.92 million. (NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

FG, States, LGCs Share N2.001 Trillion From A Gross Total Of N3.836 Trillion For The Month Of July 2025

By Oladosu Adebola Oluwaseun The Federation Account Allocation Committee...

Attack on Katsina Mosque, Killings Condemnable, Speaker Abbas Mourns Worshippers

By Oladosu Adebola Oluwaseun The Speaker of the House...

IADI Alleges Plot to Hijack Kafe Green Area Land

Alleges compromise by FCDA Executive Secretary and staff, using...

TCN Takes Anti-Vandalism Campaign to Edo Communities

By Jabiru Hassan The Transmission Company of Nigeria (TCN) has...

Muslim Ummah Urged to Love Prophet Muhammad

By Muhammad Ibrahim, Sokoto Chief Imam of Buhari Dan Shehu...

Sokoto NUJ Council Discusses Pending Issues at Congress

By Muhammad Ibrahim, Sokoto The Sokoto State Council of the...

Sokoto Council Of NUJ Holds Congress As Commissioner Of Police Presents Paper

By Muhammad Ibrahim, Sokoto The Sokoto State Council of the...
spot_img

Related Articles

Popular Categories

spot_imgspot_img