Stock market starts week in red, extends bearish run
The Nigerian bourse extended its bearish run on Monday with crucial indicators recording 0.08 percent loss.
Specifically, the market capitalisation dipped N17 billion or 0.08 percent to close at N21.008 trillion against N21.025 trillion posted on Friday.
Also, the All-Share Index which opened at 40,186.70 dropped 32.61 points or 0.08 percent to close at 40,154.09.
The loss was driven by price depreciation in large and medium capitalised stocks amongst which are: Africa Prudential, Lasaco Assurance, Niger Insurance, Lafarge Africa and Red Star Express.
Overall, the market recorded 26 losers as against 20 gainers.
Africa Prudential led the losers’ chart in percentage terms with 9.59 percent to close at N6.60 per share.
Lasaco Assurance followed with 9.52 percent to close at N1.52, while Niger Insurance shed 8.70 percent to close at 21k per share.
Lafarge Africa dropped eight per cent to close at N23, while Red Star Express shed 7.42 percent to close at N3.12 per share.
On the other hand, UPDC Real Estate Investment Trust dominated the gainers’ chart in percentage terms, gaining 9.35 percent to close at N5.85 per share.
Consolidated Hallmark Insurance followed with 9.09 per cent to close at 36k, while Academy Press rose by 8.57 percent to close at 38k per share.
Cornerstone Insurance garnered 7.81 percent to close at 69k, while University Press appreciated by 7.50 per cent to close at N1.29 per share.
Also, the total volume of trades declined by 5.99 percent to 289.34 million shares valued N3.57 billion achieved in 4,953 deals.
This was in contrast with a total of 307.79 million shares worth N2.91 billion traded in 4,393 deals on Friday.
Transactions in the shares of FBN Holdings topped the activity chart with 57.56 million shares valued N419.713 million, per share.
United Capital followed with 27.44 million shares worth N167.340 million, while Guaranty Trust Bank traded 26.85 million shares valued N820.55 million.
United Bank for Africa (UBA) traded 25.197 million shares valued N210.95 million, while Zenith Bank transacted 21.74 million shares worth N540.28 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
Digital payments power Nigeria’s $11.09 billion food service industry: Moniepoint Study
The study projected that the market would reach $19.31 billion by 2030, expanding at an annual rate of 11.73 per cent.
States
LG Poll: Edo police impose statewide movement restriction
The police command in Edo State announced movement restriction from 12:00 midnight to 6:00 p.m. on Saturday as part of measures for the local government election.
Economy
NDPHC hands over Gbarain power plant rehabilitation to TILT, Schneider
The company said the handover was to replace the plant’s burnt power control module.
States
Gov. Alia backs Benue/Kogi joint police taskforce to tackle border crimes
According to the governor, the joint task force will strengthen security checks and dismantle criminal enclaves operating around the border areas.
States
Insecurity: Plans ongoing to establish military bases in Kogi communities, lawmaker says
Kogi lawmaker says plans are ongoing to establish military bases in some communities in the state.
World
11 dead as wildfire ravages southern Spain
At least 11 people have been killed and eight injured as wildfire ravages Los Gallardos, AlmerÃa, in Southern Spain.
