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NSE resumes new trading week with 0.22% loss


The local bourse resumed the first trading week on a bearish note with key performance indicators dropping by 0.22 per cent, amid profit taking in 19 stocks, the News Agency of Nigeria reports.

Speficially, the All-Share Index, which opened the week at 38,648.48 lost 86.64 or 0.22 per cent to close at 38,561.84.

Consequently, the month-to-date and year-to-date losses increased to 3.1 per cent and 4.2 per cent respectively.

Also, the market capitalisation dipped N46bn to close at N20.18tn from N20.22tn recorded on Friday.

The loss was driven by price depreciation in large and medium capitalised stocks amongst such as Nigerian Breweries, Guaranty Trust Bank, Guinness Nigeria, Dangote Sugar Refinery and International Breweries.

The market closed negative with 19 laggards against 17 gainers.

Regency Alliance Insurance led the losers’ chart in percentage terms, losing 9.09 per cent to close at 30k per share.

Livestock Feeds followed with a loss of 8.50 per cent to close at N1.83, while Nigerian Breweries dipped 5.34 per cent to close at N47 per share.

Lasaco Assurance and Jaiz Bank shed 4.62 per cent each to close at N1.24 and 62k per share respectively.

Conversely, Wapic Insurance dominated the gainers’ chart in percentage terms with a growth of 10 per cent to close at 55k per share.

Northern Nigeria Flour Mills trailed with a gain 9.73 per cent to close at N6.20, while Smart Products grew by 8.33 per cent to close at 26k per share.

NEM Insurance rose by 7.88 per cent to close at N2.19, while Berger Paints appreciated by 7.44 per cent to close at N6.50 per share.

Similarly, the total volume of shares traded declined by 37.2 per cent as investors bought and sold 184.53 million shares worth N2.52bn traded in 3,527 deals.

This was in contrast with 293.97 million shares valued at N3.77bn achieved in 3,760 deals on Monday.

Transactions in the shares of FBN Holdings topped the activity chart with 31.14 million shares worth N225.98m.

Notore Chemical followed with an exchange of 22 million shares valued at N1.38bn, while Fidelity Bank traded 15.28 million shares worth N35.31m.

Sovereign Trust Insurance accounted for 10.79 million shares valued at N2.42m, while Transcorp transacted 8.68 million shares worth N7.11m.

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