NSE resumes trading on bearish trend

Equity transactions on the Nigerian Stock Exchange (NSE) on Tuesday resumed after the independence holiday on a negative trend, with market indicators depreciating marginally by 0.37 per cent.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed N45 billion or 0.37 per cent to close at N12.171 trillion against N12.216 trillion posted on Friday.

Also, the All-Share Index, which opened at 35,439.98 lost 133.89 points or 0.37 per cent to close at 34,306.09.

An analysis of the price movement indicated that Nestle led the losers’ table with a loss of N5.11 to close at N1215 per share.

Nigerian Breweries trailed with N3 to close at N162 and Dangote Cement dipped N2.99 to close at N210, while Forte Oil declined by N1.8 to close at N48.1 per share.

PZ Cussons also lost N1.27 to close at N24.23 per share.

Conversely, Total Oil led the gainers’ table during the day, gaining N4 to close at N235 per share.

Guinness came second with a gain of N3.49 to close at N98.5 and Lafarge Wapco appreciated by N1.34 to close at N52.02 per share.

Zenith Bank increased by 61k to close at N24.01, while Stanbic IBTC added 51k to close at N40.01 per share.

However, the volume of shares increased as investors exchanged 634.33 million shares worth N5.79 billion transacted by investors in 3,850 deals.

This was in contrast with 192.204 million shares worth N3.67 billion exchanged in 2,814 deals on Friday.

NAN reports that FCMB was the most active, exchanging 370.41 million shares valued at N377.99 million.

FBNH followed with an account of 33.99 million shares worth N193.57 million, while GTBank traded 33.48 million shares valued at N1.34 billion.

Zenith Bank sold 26.86 million shares worth N641.09 million and UCAP traded 25.18 million shares valued at N73.29 million. (NAN)

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