L – R shows Doyin Ogun, Manager, Investor & Govt. Relations, Forte Oil Plc; Tony Ibeziako, Head, Domestic Primary Market, NSE; Julius Omodayo-Owotuga, Group Chief Financial Officer, Forte Oil Plc; Ade Bajomo, ED, Market Operations and Technology, NSE; Akin Akinfemiwa, Group CEO, Forte Oil Plc; Akin Olagbende General Counsel, Forte Oil Plc; Tunji Rabiu, GM, Operations, Forte Oil Plc and Ayodeji Adelakun, Financial Controller, Forte Oil Plc at the Facts Behind the Figures presentation at the Exchange on Monday.
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday opened the week on a bearish note as the all-share index (ASI) closed at 27,843.00 points, while market capitalisation fell by N57.33 billion to N9.56 trillion.
“Today’s performance increased the Year-to-Date loss to 2.79 percent,” Cordros daily market update affirmed.
At the close of today’s session, the Banking and Industrial Goods indices depreciated by 0.11 percent and 0.17 percent each following losses in the shares of Nigeria’s top tier lender, Zenith Bank Plc, financial HoldCo, FBN Holdings Plc; each losing 1.18 percent and 1.76 percent respectively. While cement producers, Lafarge Cement Wapco Plc and Cement Company of Northern Nigeria Plc declined by 0.25 percent and 4.86 percent apiece.
Similarly, the Consumer Goods and Oil & Gas indices closed in red by 1.86 percent and 0.14 percent respectively, driven by negative interest in the shares of Nigeria’s brewing giants, Nigerian Breweries Plc and Guinness Nigeria Plc by 2.89 percent and 1.59 percent each, while oil marketers, Forte Oil Plc and Oando Plc dropped by 0.40 percent and 9.46 percent each.
In the same vein, the Insurance index declined 0.07 percent owing to a loss in the shares of insurer, AIICO Insurance Plc by 1.35 percent.
Cordros reports that at the close of trading on the domestic bourse, market breadth posted a negative outlook with 15 gainers and 28 losers, according to daily market statistics obtained from the NSE.
Oil marketing major, Total Nigeria Plc emerged the top gainer with a gain of N18.59; while its peer, Oando topped the losers chart with a loss of 0.53 kobo per share to close the session.
In terms of turnover, total volume traded on the nation’s equities market fell by 25.05 percent to 331.69 million shares, valued at N4.75 billion, and traded in 4,114 deals.
“We expect bearish sentiments to persist in tomorrow’s session, as today’s performance (e.g. negative market breadth and declines across all major sectors) indicates weakened appetite,” the Cordros update added.
