The first trading day of the week closed on a negative note as major market indicators of the Nigerian Stock Exchange recorded marginal decline.
Specifically, the market capitalisation of the listed equities fell by N 55bn or 0.5 per cent to close at N11.170tn down from N11.225tn recorded at the end of last week’s trading.
Similarly, the NSE’s All-Share Index was down by 173.71 basis points or 0.5 per cent from 35,109.33 points recorded on Friday, to 34,935.62 points.
The NSE-30 Index also dropped by 0.3 per cent or 4.56 basis points to close at 1,664.11 points, down from 1,668.67 points recorded last Friday, while the NSE Banking Index lost 0.4 per cent or 1.60 basis points to 396.89 points, down from 398.49 points on Friday
Other indices, however, closed positive as the Consumer Goods Index rose by 0.3 per cent or 2.63 basis points from 981.22 points to 983.85 points, while the NSE Oil/Gas Index went up from 178.71 basis points last Friday to 180.89 basis points.
Analysts said that the depreciation in the Index was as a result of the losses recorded in the share prices of some highly capitalised stocks, such as Dangote Cement Plc, Stanbic IBTC Holding Plc, Skye Bank Plc, Dangote Sugar Refinery Plc and Lafarge WAPCO Cement Plc.
Air Service and Logistics Plc recorded the highest gain of the day, rising by 10 per cent or 33 kobo to close at N3.63 per share.
Chemical and Allied Products Plc followed, rising by 10 per cent or N4.68 kobo to close at N51.48 per share.
ABC Transport Plc and National Salt Company of Nigeria Plc gained 10 per cent and 9.9 per cent to close at 88k and N9.95 per share, respectively; while African Prudential Plc and Neimeth Pharmaceutical Plc added 9.7 per cent each to close at N1.69 and 79 kobo per share in that order.
Ikeja Hotel Plc, on the other hand, lost the highest price for the day, shedding 10 per cent or nine kobo to close at 81k per share.
Japaul Oil and Maritime Services Plc also fell by 10 per cent or nine kobo to close at 81k per share, while Juli Plc and Wema Bank Plc lost 9.9 per cent and 9.7 per cent to close at 26k and 13k per share.
Source: Punch (by Udeme Ekwere)
