Equities Market Begins Week In Red, Down 0.52%

By Staff Reporter

Nigerian stocks closed downbeat on renewed bear pressure, sending the Nigerian Stock Exchange (NSE) All Share Index and market capitalisation lower by 0.52 per cent each.

Meanwhile, total deals, transacted volumes and Naira votes rose by 25.46 per cent, 5.13 per cent and 7.85 per cent respectively.
Shares of Guaranty Trust Bank and Zenith Bank jointly accounted for 66 per cent of total Naira votes and drove the NSE Banking Index Northwards by 1.17 per cent.

Indigenous oil and gas downstream player, Conoil, led the gainers’ table when it appreciated by 168 kobo to close at N18.24 per share, followed by indigenous petroleum upstream operator, Seplat Petroleum Development Company, which grabbed 100 kobo to close at N351.00 per share, UAC of Nigeria added 99m kobo to close at N20.995 per share, Zenith Bank gained 55 kobo to close at N12.90 per share, while National Salt Company of Nigeria appreciated by 37 kobo to close at N7.87 per share, among others.

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On the flip side, fizzy drinks manufacturer, 7 Up Bottling Company, led the decliners when it went down by 807 kobo to close at N153.43 per share, followed by Nigerian Breweries which lost 300 kobo to close at N97.00 per share, building materials’ major player, Dangote Cement, depreciated by 200 kobo to close at N162.00 per share, its peer-Lafarge Cement WAPCO shed 145 kobo to close at N84.05 per share, while Flour Mills of Nigeria slipped by 64 kobo to close at N19.52 per share, among others.

Guaranty Trust Bank emerged the most traded equity with an exchange of 21.585 million shares worth N363.643 million.  It was trailed by Zenith Bank; having accounted for 20.565 million shares valued N264.291million, Diamond Bank sold 14.202 million shares worth N20.290 million, Oando exchanged 14.193 million shares valued N77.884 million while Transnational Incorporated traded 13.102 million shares worth N15.336 million.
In all, investors bought and sold 174.501 million shares valued N1.406 billion transacted in 3,632 while the financial services sub-sector recorded a total of 96.503 million shares, valued at N565.039 million in 1,557 deals.

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