Nigeria’s Bourse Begins Week at a Loss

The Nigerian Stock Exchange (NSE) began trading for the week with a loss of 0.35 per cent owing to persistent profit taking.

Specifically, the NSE All-Share Index lost 144.78 points or 0.35 per cent to close at 41,564.31, compared with 41,709.09 posted on Friday.

Also, market capitalisation, which opened at N21.818 trillion, dipped N74 billion to close at N21.744 trillion.

The downturn was impacted by losses recorded in large and medium capitalised stocks, among which are Guaranty Trust Bank, PZ Cussons, Flour Mills, Unilever and Champion Breweries.

Champion Breweries drove the laggards’ chart in percentage terms, losing 9.75 per cent to close at N2.50 per share.

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PZ Cussons followed with 9.73 per cent to close at N5.10, while Jaiz Bank shed 9.72 per cent to close at 65k per share.

Cornerstone Insurance dipped 9.23 per cent to close at 59k, while RT Briscoe Nigeria lost 9.09 per cent to close at 20k per share.

On the other hand, McNichols recorded the highest price gain in percentage terms, gaining 9.59 per cent to close at 80k per share.

UPDC Real Estate Investment Trust followed with 9.09 per cent to close at N6, while Multiverse Mining and Exploration rose by 8.33 per cent to close at 26k per share.

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Fidson rose by 8.30 per cent to close at N6, while Africa Prudential appreciated by 8.21 per cent to close at N7.25 per share.

The total volume of shares transacted dropped 29.4 per cent with an exchange of 340.28 million shares worth N2.64 billion in 5,251 deals.

This is against a turnover of 482.19 million shares valued at N5.58 billion exchanged in 5,998 deals on Friday.

Transactions in the shares of Union Bank of Nigeria topped the activity chart with 78.81 million shares worth N457.06 million.

FBN Holdings came second with 54.25 million shares valued at N396.42 million, while Access Bank accounted for 33.96 million shares worth N289.60 million.

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Transcorp sold 16.69 million shares valued at N16.83 million, while Zenith Bank transacted 14.17 million shares worth N368.61 million.

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