Home Markets 21 stocks depreciates market value by N156bn

21 stocks depreciates market value by N156bn


The equity segment of the Nigerian Stock Exchange (NSE) on Monday extended its bearish trend from last week’s trading sessions with 21 stocks, led by Nestle Plc, depreciating the market value by N156 billion or 1.25 percent.

The food and beverages giant, Nestle lost N145 or 9.67 percent of its unit share price to close at N1,355 per share.

Forte Oil trailed with N1.95 or 9.29 percent to close at N19.05 per share, GSPEC dipped six kobo or 9.45 percent to close at N5.75 per share, while Guaranty Trust Bank declined by five kobo or 1.43 percent to close at N34.5 per share.

Nigerian Breweries was down four kobo or 0.43 percent to close at N92.5 per share.

Against odds, Flourmill led the pack of 11 gainers. The milling company was up five kobo or 2.33 percent to close at N22 per share.

It was followed by Custodian Insurance with one kobo or 1.85 percent to close at N5.5 per share, Honyflour was up eight kobo or 5.56 percent to close at N1.52 per share, UPL added eight kobo or 4.17 percent to close at N2 per share.

FBN Holdings came last in the top five gainers’ rank with five kobo or 0.56 percent to close at N9.05 per share.

The benchmark indices of the All-Share Index (ASI) contacted to 33 trillion marks losing 426.22 absolute points or 1.25 percent to close at 33,611.69 as against 34,037.91 marks on Friday. The market capitalization was down 1.25 to close at N12.270 trillion from N12.426 trillion in the previous session.

In all, investors exchanged 137.62 million ordinary shares valued at N1.35 billion traded in 3,104 deals.