NSE: Market sheds N91bn

Transactions on the floor of the Nigerian Stock Exchange (NSE) yesterday opened the week in a bearish trend, declining by 91 billion. The value of equities which closed on Friday at N12.261 trillion depreciated further by 0.74 per cent to N12.170 trillion on Monday.

Also the NSE All Share Index decreased by 282.85 basis points to 37,888.47 points from 38171.32 points traded on Friday.  In  the same vein, the  volume of activities  went down by 63.9 per cent or 389.87 million as investors traded 219.704 million shares worth N2.411 billion in 4091 deals against 609.574 million shares valued at N3.736 billion exchanged by investors in 4032 deals.

The result showed that Total Nigeria Plc led losers chart, dropping by N7.02 kobo to close at N159.03, Forte Oil Plc  trailed with a loss of N5.20 kobo to close at N98.80 kobo while Unilever Nigeria Plc, Dangote Cement and GTBank Plc fell by N2.35 kobo, N1.10 kobo and N1.03 kobo respectively to close at N44.65 kobo, N233.60 kobo and N22.67 kobo.

On the contrary, Flour Mills Nigeria Plc topped gainers table, enhancing by N1.95 kobo to close at N77.95 kobo , Stanbic IBTC followed with a gain of N0.85 kobo to close at N20.35 kobo while Access Bank Plc gained N0.19 kobo to close at N7.70 kobo. Other stocks that recorded price appreciation were National Salt Company of Nigeria ( NASCON) and Eterna which grew by N0.14 kobo and N0.05 kobo respectively to close at N12.49 kobo and N3.85 kobo.

Further analaysis of the trading showed that Diamond Bank recorded the highest volume of activities for the day, exchanging 35.541 million shares worth N230.651 million, FBN Holdings Plc followed with account of 35.017 million shares cost N408.463 million while Transnational Corporation of Nigeria (Transcorp) traded 17.075 million shares worth N66.036 million. Zenith International Bank Plc sold 16.040 million shares valued at N336.955 million and Sterling Bank Plc traded 15.577 million shares worth N34.333 million.