Equity trading activities on the Nigerian Stock Exchange opened the week on a negative note, with major indicators losing marginally.

The market capitalisation of the listed shares fell by 0.2 per cent or N12bn from N6.830tn last Friday, to close at N6.817tn on Monday.

Similarly, the NSE’s All-Share Index, dropped by 0.2 per cent or 37.75 basis points from 21,394.77 points last week to close to 21,357.22 points.

The NSE-30 Index was down marginally by 0.2 per cent or 1.56 basis points to close at 972.28 points, down from 973.84 points recorded the previous day.

The NSE Banking Index and the consumer goods index dropped by 0.3 per cent and 0.4 per cent to close at 302.28 and 1,722.27 points respectively.

The NSE Insurance Index, lost the highest for the day, as it fell by 1.5 per cent or 1.86 basis points to close at 120.69 points.

Analysts attributed the marginal slide in activities to weak bargain on the part of investors.

According to them, market breadth closed weaker as more stocks continued to shed weight on the back of growing selling tendency among investors.

The banking sub-sector maintained its lead on the activity chart, accounting for 41 per cent of total turnover traded.

In the banking sub-sector, 113.348 million shares, valued at N550m were exchanged by investors in 1,853 transactions.

Trading in the shares of Fidelity Bank Plc drove the sub-sector’s turnover, accounting for 45 per cent of volume in the sub-sector.

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

Japaul Oil and Maritme Services Plc emerged the highest price gainer at the close of activities, rising by five per cent or three kobo to close at 63 kobo per share.

Access Bank Plc followed, rising by 4.9 per cent or 30 kobo to close at N6.40 per share.

RT Briscoe Plc and Fortis Microfinance Bank followed on the chart, rising by 4.7 per cent each to close at N1.76 and N5.50 per share respectively.

Arbico Plc, on the other hand, led 17 other companies on the price losers’ chart, shedding 4.9 per cent or N1.23 to close at N23.47 per share.

Source: Punch/Udeme Ekwere