NSE indices plunge further by 0.47%

Brokers on the floor of Nigerian Stock Exchange in Lagos.

Brokers on the floor of Nigerian Stock Exchange in Lagos.

Activities on the Nigerian Stock Exchange (NSE) resumed on Monday with on a low note with market indices depreciating further by 0.47 per cent from Friday’s performance.

The News Agency of Nigeria (NAN) reports that market capitalisation shed N45 billion to close at N9.31 trillion against N9.35 trillion posted on Friday.

Also, the All-Share Index which opened at 27,232.62 points lost 129.31 points to close at 27,103.31 amid loses by some highly capitalised equities.

NAN reports that market analysts attributed the recent downtrend in the market to concerns on government’s economic policies, especially on foreign exchange.

An analysis of the price movement chart indicated that Nestle topped the losers’ chart, dropping by N22.98 to close at N757 per share.

Lafarge Africa trailed with a loss of N3.51 to close at N76.50 per share, while Dangote Cement dipped N1.20 to close at N163.80 per share.

Cadbury dropped by 51k to close at N18n per share, while International Breweries depreciated by 48k to close at N19.50 per share.

Conversely, Unilever led the gainers’ table, growing by N1.02 to close at N33.02 per share.

Forte Oil followed with a gain of 99k to close at N197.99 per share, while Guinness gained 35k to close at N98 per share.

Access Bank increased by 23k to close N5.75 per share and Champion Breweries grew by 16k to close at N2.87 per share.

NAN also reports that the volume of shares traded closed with a total of 152.33 million shares valued at N2.29 billion transacted in 3,406 deals.

This was in contrast with 190.65 million shares worth N1.63 billion achieved in 3,156 deals on Friday.

FBN Holdings emerged the most traded in volume terms, exchanging 40.05 million shares valued at N151.09 million.

FCMB Group traded 19.14 million shares valued at N30.59 million, while Zenith Bank sold 11.05 million shares worth N165.69 million.

United Bank for Africa traded 9.74 million shares valued at N42.09 million and Access Bank sold 8.99 million shares worth N51.34 million.

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