NSE Index Slightly up by 0.04% as Market Mood Stays Dull

By Dipo Olowookere

The mood on the Nigerian Stock Exchange (NSE) remained weak on Tuesday despite the marginal gain recorded by the market as well as a positive earnings posted by Zenith Bank this week.

The dull mood reflected in the lower volume and value of trades recorded yesterday by investors at the market, which went down by 42.10 percent and 50.93 percent respectively.

A total of 407.9 million equities were transacted on Tuesday in 5,245 deals worth N6 billion against 831.4 million shares worth N10.6 billion completed on Monday in 5,651 deals.

At the close of business yesterday, the local bourse rose by 0.04 percent with Year-to-Date (YtD) return finishing at 12.63 percent.

Also, the All-Share Index (ASI) appreciated by 16.91 points to settle at 43,073.42 points, while the market capitalisation increased by N6.1 billion to finish at N15.409 trillion.

the market breadth closed negative yesterday as the stock market ended with 26 price risers and 39 price fallers.

Nestle Nigeria was the biggest price gainer after appreciating by N20 to close at N1400 per share, while Mobil Nigeria followed with N8.70k added to its share value to finish at N183.70k per share.

Dangote Cement rose by N3.40k to end at N268.40k per share, Total Nigeria advanced by N2.90k to settle at N249 per share, and Guinness Nigeria improved by 80k to finish at N99.80k per share.

At the market on Tuesday, there were huge activities witnessed in the Zenith Bank counters, emerging the most traded with a total of 70.3 million shares sold for N2.2 billion.

FBN Holdings exchanged 53 million equities worth N605.3 million, while Axa Mansard traded 50.4 million units for N137.5 million.

UBA transacted 27.4 million shares valued at N336.2 million, while Skye Bank exchanged 19 million equities for N16.9 million.