Nigerian bourse opens the week in red as Index down 0.04%

Trading activities on the Nigerian Stock Exchange opened the week on Monday in a negative territory as investors in equities on the Exchange recorded a joint loss of N6 billion.

The market capitalisation which opened the week at N14.982 trillion closed at N14.976 trillion, representing 0.04 percent decline or N6 billion loss.

The stand of the market for the day was majorly caused by the 17 companies which recorded losses as they were led by Forte Oil Plc and Unilever Nigeria Plc.

Analysis of the day’s trading showed that Forte Oil Plc depreciated by 9.09 per cent to close at N40.00 from N44.00. Royal Exchange Plc followed, depreciating by 6.06 per cent to close at N0.31 from N0.33.

Unilever Nigeria Plc was down by 4.98 per cent to close at N52.45 from N55.20. Diamond Bank Plc recorded a decline of by 4.65 percent to close at N2.05 from N2.15, while FTN Cocoa Processors Plc was down 4.55 percent to close at N0.21 from N0.22 per share.

Conversely, 34 gainers emerged during the day, led by Custodian and Allied Plc and GlaxoSmithKline Plc with 10 per cent increase in its par share value to close at N4.51 from N4.10 and N28.05 from N25.50 per share respectively.

Multiverse Mining and Exploration Plc was the third on the list as its shares appreciated by 9.25 per cent to close at n0.23 from N0.21. Fidson Healthcare Plc chalked up by 9.49 per cent to close at N6.00 from N5.48, while Unitykapital Assurance Plc was up 9.09 per cent to close at N0.24 from N0.22 per share.