NSE loses N40bn to begin new trading week

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Factual Pursuit of Truth for Progress

 

By Francis Ogwo

It was a negative status at the floor of the Nigerian Stock Exchange as investors take profits from last week’s trading which went bullish.

This was also with the market breadth closing positive with 35 gainers against 22 losers.

The All-Share Index dipped 93.76 basis points or 0.23 per cent to close at 1,082.38 index points as against 41,176.14 recorded the previous trading session while market capitalisation of equities dropped by N40 billion from N21.530 trillion the last Friday to N21.490 trillion as market sentiment remained on the negative territory.

A turnover1.01 billion shares exchanged in 7,404 deals was recorded in the day’s trading. The insurance sub-sector was the most active (measured by turnover volume); with 229.92 million shares exchanged by investors in 776 deals.

Volume in the sub-sector was largely driven by activities in the shares of SUNU Assurance Plc and Universal Insurance Plc.

Also, the premium sub-sector boosted by activities in shares of FBNH Plc and Access Bank Plc followed with a turnover of 135.74 million shares in 2,078 deals.

Further analysis of the day’s trading showed that in percentage terms, African Alliance Plc, AIICO Insurance Plc, Cadbury Nigeria Plc, RT Breicoe Plc, Tranex Plc and Universal Insurance Plc topped the day’s gainers’ table by 10 per cent each to close at 22 kobo, N1.32, N10.45, 22 kobo, 88 kobo and 22 kobo per share respectively .

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