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NSE Index Down By 0.35% As Market Cap Sheds N32.4b

NSE Stock Market

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) opened for the week on Monday, November 7, 2016 on a deleterious note.

The volume of shares traded at the market today fell short of what was traded last Friday, when the market closed for the week.

Investors exchanged 115.04 million shares worth N1.16 billion in 2,963 deals at the close of trading activities on the NSE floor on Monday compared to 151.9 million sold last Friday at N1.21 billion in 2,903 deals.

The all-share index, which dropped by 0.23 percent to close at 26,981.60 basis points last Friday, slumped further by 0.35 percent or 94.06 basis points on Monday to finish at 26,887.54 basis points.

Likewise, the market capitalisation depreciated by N32.4 billion to close at N9.35 trillion against N9.29 trillion it ended last Friday.

A total of 18 stocks closed in the red zone on Monday, while 10 stocks finished in the green zone and nine stayed unchanged.

Unilever topped the losers’ chart at the close of trading, losing N1.50k or by 3 percent to finish at N48.50k per share, while CAP Plc, which trailed, shed N1.35k or by 4 percent to end at N32.40k per share.

GTBank lost 71k or by 3.15 percent to close at N21.86k per share, CCNN fell by 29k or 5.54 percent to end at N4.94k per share, while Mansard slumped by 9k or 4.55 percent to finish at N1.89k per share.

But at the other side of the divide, Guinness appreciated by N2 or 2.38 percent to close at N86 per share, Eterna added by 29k or 9.9 percent to end at N3.22k per share, Airline Services went up by 12k or 4.72 percent to finish at N2.66k per share, Ikeja Hotel improved by 8k or 4.71 percent to close at N1.78k per share and Livestock Feeds Plc rose by 6k or 8.22 percent to close 79k per share.

Financial Services sector performed well on the NSE floor today with UBA, GTBank, Zenith Bank, First Bank and FCMB emerging the most traded stocks on Monday in the that order.

While UBA sold 21.5 million shares at N91.7 million, GTBank traded 17.8 million shares worth N393.3 million.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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