Equity trading activities on the Nigerian Stock Exchange resumed this week on a negative trend, with major indicators declining marginally.

The market capitalisation of listed shares fell by 0.1 per cent or N5bn, from last week’s closing figure of N6.567tn recorded on Friday to close at N6.562tn.

Similarly, the NSE’s All-Share Index dropped by 0.1 per cent or 16.15 basis points, from Friday’s closing figure of 20,840.97 to stand at 20,824.82 on Monday.

The NSE-30 Index slid down marginally by 0.1 per cent or 1.16 basis points to close at 934.29 points, down from 935.45 points recorded last week.

The NSE Food/Beverage Index and the insurance index dropped by 1.2 per cent and 0.5 per cent to close at 1,694.32 and 271.44 points, respectively.

The NSE Banking Index, on the other hand, recorded a marginal appreciation, rising by 1.1 per cent to close at 271.44 points.

Analysts traced the development to the bearish sentiment in the market, as there were significant selling activities in the consumer goods and services sectors, which added to the marginal slide in activities.

The banking sub-sector maintained its lead on the activity chart, accounting for 67 per cent of the total turnover.

In the banking sub-sector, 22.01 million shares, valued at N171m were exchanged by investors in 134 transactions.

Trading in the shares of Ecobank Transnational Incorporated Plc drove the sub-sector’s turnover, accounting for 41 per cent of volume in the sub-sector.

Other companies that recorded high turnover in the sub-sector included Skye Bank Plc, First Bank of Nigeria Plc and United Bank for Africa Plc.

A total of nine stocks recorded price appreciation at the close of activities on Monday, while eight stocks recorded losses.

UACN Property Development Company Plc emerged the highest price gainer at the close of activities, rising by five per cent or 60 kobo to close at N12.60 per share.

National Salt Company of Nigeria gained 4.9 per cent or 20 kobo to close at N4.21 per share.

UBA Plc and Cement Company of Northern Nigeria Plc lost 3.9 per cent and 3.5 per cent to close at N2.40 and N5 per share, respectively.

Livestock Feeds Plc, on the other hand, lost the highest, shedding 4.71 per cent or four kobo to close at 81 kobo per share.

Red Star Express Plc and Aiico Insurance Plc and Dangote Flour Plc shed 4.6 per cent and 3.9 per cent to close at N2.46 and 50 kobo per share in that order.

Source: Punch/Udeme Ekwere