Home Markets Stock market index dips 0.04% as Seplat tops losers

Stock market index dips 0.04% as Seplat tops losers


Equity trading on the floor of Nigerian Stock Exchange (NSE) on Monday remained pessimistic with the benchmark indices declining by 0.04 percent due to losses by some blue chips companies.

The All-Share Index shed 17.80 points or 0.04 per cent to close at 41,454.30 compared to 41,472.10 on Friday, while the market capitalisation which opened at N14.981 trillion lost N6 billion or 0.04 per cent to close at N14.975 trillion.

However, market breadth closed positive, recording 34 gainers against 17 losers with Seplat recording the highest loss for the day, shedding N21.90 to close at N700.10 per share.

Forte Oil trailed with a loss of N4 to close at N40, while Unilever depreciated by N2.75 to close at N52.45 per share. Lafarge Africa was down with a loss of N2 to close at N48, while Guaranty Trust Bank shed N1.60 to close at N45.30 per share.

Conversely, Presco led the gainers’ table, increasing by N3.30 to close at N72 per share.

Nestle Nigeria followed with a gain of N3 to close at N1, 320, while GlaxosmithKline added N2.55 to close at N28.05 per share. Nigerian Breweries rose by N2.50 to close at N129, while Cadbury grew by 70 to close at N15.25 per share.

In the same vein, the volume and value of shares traded dropped by 32.17 per cent and 24.11 per cent, respectively.

At the close trading for the day, investors bought and sold 379.93 million shares worth N5.13 billion exchanged in 4,913 deals as against 560.12 million shares valued at N6. 76 billion in 4,605 deals on Friday.

Access Bank was the most active in the banking subsector with 77.91 million shares worth N885.12 million changing hands.

Zenith International Bank followed with 58.42 million shares valued at N1.78 billion traded, while United Bank for Africa sold 43.95 million shares worth N525.01 million. Transcorp recorded transaction of 22.93 million shares valued at N4.79 billion, while Japaul Oil and Maritime traded 18.08 million shares worth N12.82million.