Home > Breaking news > Nigerian Stock Index Down 0.28%, As Ashaka Cement, Forte Oil, GSK Lead Losers

Nigerian Stock Index Down 0.28%, As Ashaka Cement, Forte Oil, GSK Lead Losers

The Nigerian stock market recorded a new month low of 27,478.04 basis points Monday following a 0.28 percent decline in the benchmark index at the close of equities trading. With the day’s performance, the negative year-to-date returns stands at-4.06 percent. The market capitalisation of the Nigerian Stock Exchange (NSE) likewise followed the downward pattern as Investors lost N27 billion, bringing the losses incurred by investors in the last three trading sessions to a total of N105 billion. Market breadth remained negative, closing with 12 advancers to 20 decliners. Ashaka Cement Plc led the day’s five top losers with a decline of 9.71 percent or N1.46 to close at N13.57 per share. Forte Oil Plc followed with a loss of 7.67 percent or N10.57 to close at N127.30 per share, Glaxosmith Kline Plc and Custody & Alliance Insurance dropped 5 percent each to close at N15.78 and N3.80 per share respectively. International Breweries Plc came fifth having shed 4.95 percent to close at N19 per share.
Conversely, Caverton Offshore Support group Plc led the five topmost gainers with an appreciation of 3.95 percent or 3 kobo to close at N0.79 per share. Stanbic IBTC Plc followed with a growth of 3.03 percent or 50 kobo to close at N17 per share while Wapic Insurance Plc came third having gained 2 percent or 1 kobo to close at 51 kobo per share. An increase of 1.56 percent or one kobo in the share price of Skye Bank Plc that closed at 65 kobo per share placed it fourth on the list of the day’s gainers while CAP Plc added 1.50 percent or 50 kobo to close at N33.75 per share. Market Performance measured by Volume and Value Traded in 2,520 deals settled at 81.9 million units and N592.5 million respectively.The three most active stocks were led by FCMB that sold 16.4 million shares worth N18.0 million, Transcorp Plc followed with the sale of 8.6 million shares valued at N8.5 million, while United capital sold 7.7 million shares costing N19.8 million.

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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