As against the belief that the impressive run the market witnessed for the better part of last week will continue this week, transactions on the Nigerian Stock Exchange (NSE) opened on a negative note today as investors lost N163.952 billion for the Market capitalization to close at N9.881 trillion from the opening value of N10.044 trillion.
In what was described as investors on the Exchange taking advantage of the long depression the market has witnessed to make some quick gains, the All Share Index (ASI) dropped 477.37 points or 1.63 percent to close at 28,769.90 as against closing figure of at 29,247.27 on Friday.
NEIMETH Plc led the day’s 17 gainers as it appreciated by 8.89 per cent or 8 kobo to close at 98 kobo per share, Law Union Plc increased by 8 per cent or 4 kobo to close at 54 kobo per share, Champion Breweries Plc followed with a gain of 7.25 percent or 25 kobo to close at N3.70 per share, while GlaxoSmithkline Plc gained 5.49 per cent or 78 kobo to close at N15 per share. Honeywell Flour Plc rose by 5 percent or 9 kobo to close at N1.89 per share.
On the other hand, Eco Transnational Incorporated Plc topped the day’s 33 losers, depreciating by 5 per cent or 85 kobo to close at N16.15 per share, Nigerian Breweries Plc lost 5 per cent also or N7.44 to close at N141.42 per share while Nigerian Aviation Handling Company Plc dropped 4.96 per cent or 21 kobo to close at N4.02 per share. PZ Cussons Plc and Dangote Sugar Plc fell by 4.91 and 4.86 percent or N1.09 and 34 kobo each to close at N21.11 and N6.66 per share respectively.
The top-three traders stocks for the day were FBN Holdings which traded 88.3 million shares worth N382.7 million, investors of UBA exchanged 59.5 million shares valued at N286.9 million and Diamond Bank which sold 55.3 million shares worth N122.0 billion.
In all, investors traded 416.7 million shares worth N2. 3 billion in 4,684 deals compared to 628.8 million shares worth N6.8 billion compared traded in 5,965 deals on Friday.
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