Equity market opens in negative trend, sheds N28bn

Equity market opens in negative trend, sheds N28bn
November 05 18:45 2018

Trading activities on the floor of Nigerian Stock Exchange (NSE) yesterday opened week in negative trend, dropping by N28 billion,

Specifically, Market Capitalisation of listed equities declined by 0.24 per cent to N11.700 trillion from N11.728 trillion reported on Friday.

The NSE All Share Index also depreciated by 76.76 basis points to 32048.18 points from 32124.94 reported previously.

Investors traded 157.834 million shares worth N1.750 billion in 3134 deals against 239.117 million shares valued at N2.849 billion traded in 2816 deals.

The result showed that Nestlé Nigeria Plc led gainers table during the day, increasing by N20.00 to close at N1380.00, Seplat Petroleum Development Company followed with a gain of N15.00 to close at N640.00, Presco Plc gained N5.90 kobo to close at N65.75 kobo, UAC of Nigeria increased by N0.90 kobo to close at N9.90 kobo while Cadbury Nigeria Plc added N0.90 kobo to close at N9.90 kobo.

Conversely, Unilever Nigeria Plc topped losers chart, dropping by N2.50 kobo to close at N39.50 kobo, Nigerian Breweries trailed with a loss of N2.30 kobo to close at N80.00, Cement Company of Northern Nigeria fell by N1.90 kobo to close at N18.35 kobo.

Northern Nigeria Flour Mills (NNFM) down by N0.50 kobo to close at N4.85 kobo while Ecobank Transnational Incorporated decreased by N0.45 kobo to close at N15.55 kobo.

The result also indicated that Access Bank Plc of the banking sector was the most active stock during the day, trading 18.861 million shares worth N156.524 million, FCMN followed with account of 14.614 million shares valued at N22.888 million, Guaranty Trust Bank sold 13.154 million shares cost N498.919 million Wapic Insurance exchanged 13.014 million shares valued at N5.205 million while FBNHoldings traded 12.619 million shares valued at N93.122 million.