NSE index edges lower after 1.86% rise

The Nigerian Stock Exchange All-Share Index declined on Monday after rising by 1.86 per cent on Friday to close at 34.708.11 basis points.

The rise on Thursday, the last trading day of last week, had followed over three days of consecutive losses caused largely by profit-taking activities.

However, despite halting the run of losses last week, equities opened the week on a negative note, dragging the NSE ASI down by 0.17 per cent or 58.73 per cent to 34,649.38 basis points.

The market capitalisation of the listed equities also fell by 0.17 per cent or N20bn to N11.767tn, compared to the N215bn or 1.86 per cent rise it recorded on Thursday last week to close at N11.787tn.

Monday’s losses were heavier in the industrial sector, a review of the sectoral Exchange’s indices showed.

Of the five sectoral indices, three rose while two declined. The NSE Banking Index rose by 0.7 per cent to close at 392.07 basis points, the NSE Oil and Gas Index edged up by 0.68 per cent to 384.83 basis points, while the NSE Consumer Goods Index gained 0.43 per cent to close at 884.41 basis points.

The appreciation recorded by the three indices were diminished by a 1.44 per cent decline suffered by the NSE Insurance Index, which closed at 144.18 basis points and the 1.01 per cent decline recorded by the NSE Industrial Index, which closed at 2,161.03 basis points.

Meanwhile, the NSE 30 Index, which measures the performance of the top 30 stocks on the Exchange, gained 0.27 per cent to close at 1,592.37, while the NSE Lotus Islamic Index declined by 0.6 per cent to close at 2,262.38 basis points.

Unlike the other indices, the NSE Alternative Securities Market Index was unchanged at 1,214.94 basis points.

Investors traded 324.480 million shares worth N6.415bn in 4,845 deals with 25 stocks rising and 28 others declining.

Vitafoam Nigeria Plc led the gainers, rising by 10.14 per cent or 49 kobo to close at N5.32 per share, while Red Star Express Plc gained 9.79 per cent or 37 kobo to close at N4.15 per share.

FBN Holdings Plc appreciated by 7.71 per cent or 68 kobo to close at N9.50 per share.

Also, University Press Plc rose by 4.97 per cent or 24 kobo to close at N5.07 per share, while Honeywell Flour Mills Plc gained 4.88 per cent or 16 kobo to close at N3.44 per share.

Unity Bank Plc recorded the biggest drop for the day, losing 9.51 per cent or 37 kobo to close at N3.52 per share.

It was followed by Mansard Insurance Plc and Trans-nationwide Express Plc, which fell by five per cent and 4.92 per cent to close at N2.85 and N1.16 per share, respectively.

Dangote Flour Mills was down by 4.91 per cent or 24 kobo to close at N4.65 per share, while Vono Products Plc and Sterling Bank Plc fell by 4.85 per cent and 4.80 per cent to close at 98 kobo and 2.18 per share in that order.

Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: editor@punchng.com

Source : Punch

Tags: No tags

Comments are closed.