Nigeria’s Stock Exchange Begins Week With 0.43% Loss

It was observed that the consumer goods and the banking sectors contributed to the downfall of the nation’s stock exchange after they closed lower by 0.54 per cent and 0.24 per cent, respectively.

Business Post reports that the energy space grew by 0.36 per cent, the insurance counter expanded by 0.29 per cent, and the industrial goods index appreciated by 0.12 per cent, while the commodity industry closed flat.

When trading activities at Customs Street ended for the day, the All-Share Index (ASI) decreased by 471.93 points to 108,261.47 points from 108,733.40 points and the market capitalisation shrank by N296 billion to N68.043 trillion from N68.339 trillion.

Despite the decline suffered by the bourse yesterday, investor sentiment was bullish, with a positive market breadth index after closing with 39 price gainers and 27 price losers.

Multiverse, Smart Products, and Meyer topped the advancers’ group after chalking u 10.00 per cent each to settle at N11.00, 55 Kobo, and N8.80 apiece, Beta Glass improved by 9.99 per cent to N176.70, and Haldane McCall rose by 9.88 per cent to N4.67.

Conversely, eTranzact shed 10.00 per cent to close at N5.40, John Holt lost 9.48 per cent to trade at N5.25, Union Dicon depreciated by 9.47 per cent to N7.65, C&I Leasing crashed by 8.31 per cent to N3.86, and Linkage Assurance stumbled by 8.06 per cent to N1.14.

On the activity chart, Tantalizers dominated with 49.2 million shares worth N113.2 million, VFD Group traded 48.9 million equities valued at N782.3 million, Access Holdings transacted 29.4 million stocks for N629.4 million, Zenith Bank sold 24.3 million equities valued at N1.2 billion, and AIICO Insurance exchanged 19.1 million shares worth N31.0 million.

At the close of transactions, a total of 409.9 million stocks valued at N10.6 billion exchanged hands in 16,441 deals compared with the 459.2 million stocks worth N11.2 billion traded in 15,723 deals last Friday, indicating a rise in the number of deals by 4.57 per cent, and a slump in the trading volume and value by 10.74 per cent and 5.36 per cent, respectively.