Equities dips 0.12% to open week negative

By Omobayo Azeez

The aggregate value of equity investments at the Nigerian Stock Exchange (NSE) fell by 0.12 per cent as a new week commenced on Monday.

This amounted to N15 billion loss for investors as the market capitalization closed lower at N11.832 trillion from N11.847 trillion is opened the day and the All-Share Index (ASI) shed 28.16 points to close at 22,705 points, lower than 22,733.35 basis points it opened the session.

On sector performance, all sector indices declined save for insurance which appreciated by +1.3 per cent and banking with 0.6 per cent, as the industrial goods index fell by -0.5  per cent, consumer goods by -0.2 per cent  and oil & gas index closed flat.

Although, analysis of trading statistics from the NSE shows that market breadth closed positive with emergence of 18 gaining stocks against 14 decliner counterparts, this however, could not save the session from the firm grip of the bears.

The gaining camp was led by Julius Berger, which gained N1.95 to close at N22.15 per share. It was followed by Zenith Bank Plc with N0.90 profit to close at N12.80 per share.

Other gainers that made the top list for the day include UBN with N0.60 profit to close at N6.60 per share; EKOCORP with N0.50 gain to close at N6 per share and PZ which appreciated in share price by N0.30 to close at N4.05 per share.

On the flip side, the losers of the day were topped by WAPCO Plc with the highest decline of N0.65 to close at N10. Others are FBNH, UBA and Dangote Sugar and which each shed N0.30 to close at N3.70, N5.05 and N9.85 per share respectively. SKYAVN followed suit with N0.25 loss to close at N2.32 per share.

The total volume of trades decreased by 24.8 per cent to 551.48 million units, valued at N5.76 billion and exchanged in 6,981 deals, while GUARANTY was the most traded stock by volume and value at 137.23 million units and N2.614 billion, respectively.

Meanwhile the turnover for the session was driven by the trio of GUARANTY, Zenith Bank with 133.173 million shares worth N1.649 billion, and FBNH which traded 135.302 million shares valued at N518.25 million, and thus contributing 73.57 per cent and 83.07 per cent to the volume and value of the day respectively.

Investors close activities on the floor of the local bourse with a total of 551.483 million shares valued at N5.755 billion that exchanged hands in 6,981 transactions.