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Trading Records Bearish Trend On Nigerian Stock Exchange

Equity transactions on the Nigerian Stock Exchange (NSE) on Monday reversed to negative trend after appreciating for three consecutive days, with market indicators depreciating by 0.06 per cent.

Market capitalisation depreciated by N6 billion to close at N9.56 trillion against N9.57 trillion achieved on Friday. Similarly, the All-Share Index recorded depreciation, dropping by 18.55 points or per cent to close at 27,839.93 points compared with 27,858.48 points achieved on Friday.

 7UP topped the losers’ chart, dropping by N7.3 to close at N139.15 per share. Forte oil trailed with a loss of N5.66 to close at N155.35 per share. Nigerian Breweries shed N1.64 to close at N143.36 per share, while Nestle dipped by N1 to close at N825 per share and PZ Cussons went down by 93k to close at N18.07 per share.

Conversely, Guinness, Total recorded the highest price gain to lead the gainers’ table, growing by N12.5 to close at N262.5 per share. Conoil came second with a gain of N3.26 to close at N35.1 per share while MRS appreciated by N1.83 to close at N38.48 per share. Mobil Oil increased by N1 to close at N171 and UACN up by 78k to close at N21.78 per share.

In spite of the decrease in equities, the volume of shares traded closed higher as a total of 328.203 million shares valued at N2.89 billion were transacted in 3,215 deals. This was in contrast with the 228.93 million shares worth N2.12 billion traded in 3,617 deals on Friday.

Access Bank drove the turnover volume, accounting for 84.09 million shares valued at N468.62 million. It was followed by FBN Holdings with a total of 54.15 million worth N166.40 million while UBA sold 38.54 million shares valued at N163.44 million. Skye Bank traded 38.54 million shares worth N24.98 million and Zenith Bank transacted 21 million shares valued at N303.34 millions.

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

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