Equities start week with 0.22% drop

Stocks on the Nigerian Stock Exchange opened the week on the negative note with the market capitalisation declining by 0.22 per cent or N23bn to N10.402tn from N10.425tn.

Also, the Nigerian Stock Exchange All-Share Index fell by 0.22 per cent or 66.78 basis points to 30,265.90 basis points from 30,322.68 basis points.

Apart from the NSE Oil and Gas Index, which inched higher by 0.06 per cent to 331.72 basis points, and the NSE Alternative Securities Market Index that closed unchanged at 1,208.40 basis points, all other indicators depreciated.

For instance, the NSE Premium Board Index fell by 0.47 per cent to 1,630.81 basis points, while the NSE Main-Board Index and NSE 30 Index dipped by 0.08 per cent and 0.19 per cent to 1,434.35 basis points and 1,378.39 basis points.

The NSE Banking Index was little-changed at 327.25 basis points, a 0.03 per cent difference from Friday’s close of 327.25 basis points.

The NSE Insurance Index fell by 0.97 per cent from 139.20 basis points to 138.44 basis points, while the NSE Consumer Goods Index and the NSE Industrial Index shed 0.08 per cent and 0.29 per cent to close at 771.89 basis points and 2,139.97 basis points.

Also down were the NSE Pension Index and the NSE Lotus Islamic Index.

The pension index shed 0.21 per cent to close at 945.72 basis points, while the LII fell by 0.18 per cent to 2,103.86 basis points.

A total of 16 stocks recorded price appreciation, while 27 others depreciated in price after 175.564 million shares worth N1.556bn were traded in 3,157 deals.

e-Tranzact International Plc topped the gainers, rising by 9.88 per cent or 24 kobo to close at N2.67 per share; followed by Portland Paints and Products Nigeria Plc, which rose by 4.87 per cent or 20 kobo to close at N4.31 per share.

The losers were led by Vono Products Plc, which shed 7.87 per cent or seven kobo to 82 kobo per share; followed by Interlinked Technologies Plc with a 4.97 per cent or 22 kobo share price depreciation to close at N4.21 per share.

Champion Breweries Plc fell by 4.97 per cent or 23 kobo to N4.40 per share, while Flour Mills of Nigeria Plc declined by 4.57 per cent or N1.08 to close at N22.54 per share.

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