Nigeria Content Online

Investors
at the Nigerian Stock Exchange (NSE) on Monday recorded more losses on
the value of their equities, as market closed trading on a negative
note.

The NSE market
capitalisation of the 201 First-Tier equities closed yesterday at N8.501
trillion after opening the day at N8.528 trillion, reflecting 0.31 per
cent decline or N27 billion losses. The market had lost over N168
billion during last week’s trading session.

Commenting on
Monday’s trading performance, analysts at GTI Capital, a stockbroking
firm, said the same growth that was recovered in the market last trading
day of the previous week was again “snatched back by the bear
(downturn) at the end of Monday’s transactions.” They said investors
watched market activities yesterday with close attention wondering if it
would bounce back.

Low gainers

The number of
gainers at the close of trading session on Monday closed lower at 19
stocks while losers closed higher at 31 stocks.

Custodian &
Allied Insurance and Nigerian Bags Manufacturing topped the price
gainers’ table with an increase of five per cent and 4.95 per cent, to
close at N3.36 and N3.18 per share, respectively. Wema Bank and RT
Briscoe followed on the gainers’ table with an increase of 4.83 and 4.71
per cent, to close at N1.52 and N2.89 per share.

On the flip side,
Livestock Feeds and Skye Bank led the price losers’ chart with a loss of
five per cent each, to close at 57 kobo and N9.50 per share,
respectively. Fidson Healthcare and Intercontinental Bank followed with a
loss of 4.92 and 4.88 per cent, to close at N2.51 and N2.73 per share.

Active sectors

The Banking
subsector led the most active subsectors’ chart with 158.807 million
volumes of shares, valued at over N987.093 million. Volume in the
subsector was driven by Unity Bank, Sterling Bank, Finbank, and First
Bank.

Trading activities
in the Media subsector followed with 65.004 million volumes of shares
valued at over N32.502 million. Deals in shares of Daar Communications,
the most traded stock on Monday, largely boosted volume in this
subsector.

The Building
Materials subsector was third in the chart with 13.408 million volumes
of shares worth N567.048 million. Volume in the subsector was driven by
Lafarge Wapco, Ashaka Cement, and Cement Company of Northern Nigeria.