Stock market resumes week on bearish trend, sheds N45bn

By Kayode Ogunwale

 

The equities market began the week with a loss of N45 billion at the close of today’s trading session.
The 0.37 percent loss in NSE All Share Index (NSE ASI) brought down the year till date return to 31.57 percent s market capitalization closed at N12.189 trillion.
Market activities dipped to begin the week as volume traded closed downbeat by 44.25 percent at 107 million from previous trading session of 192 million. Value also decreased from previous levels by 62.84 percent from 3.68 billion to close at 1.37 billion. MEYER, FCMB Holdings Plc, Niger Insurance Plc, FBN Holdings Plc and Transnational Corporation of Nigeria Plc topped the activities chart in terms of volume while Nestle Nigeria Plc, Guaranty Trust Bank Plc, Nigerian Breweries Plc, Lafarge Africa Plc and FBN Holdings Plc topped the value’s chart to contribute majorly to today’s market worth.
The NSE ASI with all other sector indices swayed southward into red zone save for NSE Insurance Index as reflected by price appreciation in Custodian and Allied Insurance Plc +4.91 percent, AIICO Insurance Plc +1.85 percent and AXAMansard+0.50 percent. The NSE Oil & Gas Index owing to bargain hunting in Total Nigeria Plc+2.67 percent.
The Market breadth closed in favour of bull as ratio stood at 1.12 with 19 gainers to 17 losers.
At the end of the trading, Nestle Nigeria Plc led the losers chart with a loss of N5.00 kobo to close at N1,225 kobo from N1,230 kobo per share. It was followed by Nigerian Breweries Plc with N3.01 kobo loss to close at N168 kobo and Lafarge Africa Plc dropped N1.48 kobo per share to end the trading with N50.00 kobo.
On the other hand, Total Nigeria Plc added N6.00 kobo to its share price to close at N231 kobo per share, followed by Glaxosmithcline Plc with N0.60 kobo per share gain and Air Services &Logistics Plc gained N0.34 kobo per share.