Stock Trading Closes Lower On NSE

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The Nigerian stock trading activities closed on a downward note yesterday, to open for the week as it depreciated by 0.35 per cent.

The depreciation, according to market analysts, is due to the negative sentiment which outweighs the possibility of politics driven, presidential inauguration and fuel crisis.

The market capitalisation lost N41 billion to close at N11.603 trillion from the N11.644 trillion recorded on Friday.

Also, the All-Share Index which opened at 34,272.09 dropped by 120.28 points to close at 34,151.81. Market breadth remained negative as 21 gainers and 26 losers were recorded. Nestle led the losers’ chart by N11 to close at N870 per share. Seplat depreciated by N10 to close at N340 while Mobil dipped by N4 to close at N150 per share. Conoil lost 91 kobo to close at N41 and Dangote Cement dropped 90 kobo to close at N177 per share.

On the other hand, Total led the gainers’ chart by N6.57 to close at N152.60 per share. Beta Glass gained N1.70 to close at N38.10 while Nigerian Breweries grew by 72 kobo to close at N154 per share. Oando appreciated by 49 kobo to close at N18.20 while Wapco chalked up 42 kobo to close at N96.50 per share.

However, the total volume of shares transacted increased by 9.05 per cent to 220.475 million shares worth N2.75 billion in 3,612 deals as against the 202.045 million shares valued at N2.1 billion traded in 3,259 deals on Friday.

Source : Leadership

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