Equity trading activities on the Nigerian Stock Exchange opened the week on a negative note on Monday, extending the losses which began last Friday.

The NSE’s All-Share Index fell by 0.13 per cent or 34.71 basis points from 25,873.71 points on Friday, to 25,839.00 points.

Similarly, the market capitalisation of the listed shares fell by 0.13 per cent or N11bn from N8.238tnn last Friday, to close at N8.227tn.

Analsysts attributed the marginal decline in the major market indicators to the profit taking activities of investors, who were taking advantage of the consistent rise in the prices of major stocks quoted on the Exchange.

The NSE-30 Index was down by 0.2 per cent or 3.02 basis points to 1,211.03 points down from 1,214.05 points recorded the preceding day.

A total of 24 stocks recorded price depreciation while 33 stocks gained at the close of trading activities on Monday

Livestock Feeds Plc, emerged the highest loser of the day, shedding five per cent or seven kobo to close at N1.34 per share.

Transnational Incorporated Plc also shed 4.9 per cent or five kobo to close at 96 kobo per share.

Air Service and Logistics Plc also lost 4.81 per cent or 10 kobo to close at N1.98 per share, while Japaul Oil and Maritime Services Plc also lost 4.7 per cent or three kobo to close at 60 kobo per share.

Other losers included Diamond Bank Plc; which lost 4.4 per cent to close at N3.43 per share and Okomu Oil Palm Plc which shed 4.2 per cent each to close at N35.25 per share, while International Breweries Plc and Forte Oil Plc lost 3.5 per cent and 3.2 per cent to close at N13.41 and N10.65 per share in that order.

On the other hand Red Star Express Plc led 32 other companies on the price gainers’ chart, rising by 10 per cent or 30 kobo to close at N3.30 per share.

Sterling Bank Plc also gained 9.09 per cent or 14 kobo to close at N1.68 per share.

Fidson Plc and Aiico Insurance Plc gained 5.8 per cent and five per cent to close at N1.64 and 63 kobo per share respectively.

The banking sub-sector maintained its lead on the activity chart, accounting for 45 per cent of total volume traded.

In the sub-sector, investors exchanged 133.76 million shares, valued at N1.077bn in 2,579 transactions.

Source: Punch/Udeme Ekwere