NSE opens trading week on depressed note as Index down 0.90%

Transactions on the Nigerian Stock Exchange (NSE) opened on Monday on depressed note with the market indices sliding by 0.90 per cent.

The Market Capitalisation shed N136 billion or 0.90 per cent to close at N15.337 trillion as against the close of N15.476 trillion on Friday.

Also, the All-Share Index, which opened at 43,127.92, lost 390.03 points or 0.90 per cent to close at 42,737.89.

The downward trend was a result of selling pressure amidst profit taking by investors on the Exchange.

Dangote Cement led the gainers’ table as it added N5.30 to close at N272 per share. Betaglass followed with a gain of N3.25 to close at N68.70, while PZ Industries gained N1.40 to close at N25.40 per share.

International Breweries appreciated by N1 to close at N60, while GlaxosmithKline also added N1 to close at N21.20 per share.

On the other side, Nigerian Breweries recorded the highest loss, dropping by N3.90 to close at N133 per share.

Guaranty Trust Bank trailed with N2.40 to close at N45.60, while Lafarge Wapco was down by N2 to close at N50 per share.

Zenith International Bank shed N1.50 to close at N29.40, while Flour Mills depreciated by N1.10 to close at N31.50 per share.

Also, the volume of shares traded closed lower as investors exchanged 517.44 million shares worth N5.19 billion in 5,852 deals.

This was in contrast to the 552.39 million shares valued at N4.49 billion shares traded in 5,489 deals on Friday.

Skye Bank  traded the highest numbers of shares for the day as investors staked  N79.16 million on its 73.15 million shares.

It was followed by FBN Holdings with 71.34 million shares worth N815.73 million, while Jaiz Bank traded 40.57 million shares valued at N42.39 million.

Transcorp sold 40.48 million shares worth N84.07 million, while FCMB Group traded 26.22 million shares valued at N71.33 million.