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Market dip by 0.30% as investors lose N28bn

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The Nigerian equities market began the week on a negative note on Monday declining by 0.30 per cent compared to a gain of 0.26 per cent recorded on Friday. The Market Capitalization of the Nigerian Stock Exchange (NSE) also dropped by N28 billion to close at N9.399 trillion compared to previous session gain of N24.4 billion to close at N9.427 trillion.

The day’s trading session closed with 10 gainers and 17 losers, as the Nigerian Stock Exchange (NSE); All Share Index (ASI) lost 82.5 basis points to close at 27,368.41 basis points compared to 70.96 basis points added last Friday to close at 27,450.91 basis points increasing the year to date losses to -4.45 per cent from -4.16 per cent recorded previously.

Nigerian Police Force Microfinance Bank Plc led the day’s top-ten advancing stocks having improved by 4.21 per cent or 4 kobo to close at 99 kobo per share;  7up Plc added 3.52 per cent or N3.98 to close at N116.98 per share; Champion Breweries Plc followed with a growth of 3.45 per cent or 9 kobo to close at N2.70 per share;  Wema Bank Plc gained 3.13 percent or 2 kobo to close at 66 kobo per share while Honeywell Flour Mills Plc appreciated by 2.94 per cent or 4 kobo to close at N1.40 per share.

Unity Bank Plc led the day’s retreating stocks having dropped by 9.52 per cent or 8 kobo to close at 76 kobo per share; Nigerian Aviation Handling Company Plc lost 5.00 per cent or 17 kobo to close at N3.23 per share; Diamond Bank Plc fell by 4.46 per cent or 5 kobo to close at N1.07 per share; N.E.M Plc declined by 4.44 per cent or 4 kobo to settle at 86 kobo per share and United CAP Plc depreciated by 4.22 per cent or 10 kobo to close at N2.27 per share.

The total value of stocks traded amounted to N711.1billion, while a total of 83.8 million shares exchanged hands in 2,279 deals.

The top three traded stocks were: First Bank Nigeria Holdings Plc with the sale of 11.7 million shares worth N34.9 million, First City Monument Bank Plc followed, trading 8.8 million stocks valued at N9.3 million and Zenith Bank Plc exchanged 7.8 million shares worth N119.9 million.

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