Equities Trading Sustains Negative Trend as NSE Index Drops 0.34%

Performance of equities on the floor of the Nigerian Stock Exchange, NSE, sustained movement south on Monday, April 25, as market indices dipped by 0.34 percent.

The All-Share Index shed 85.01 points or 0.34 per cent to close at 24,765.10 points against a loss of 59.77 points or 24 percent to close at 24,850.11 points recorded last Friday.

Similarly, the market capitalisation, which opened at N8.55 trillion, lost N29.2 billion or 0.34 percent to close at N8.52 trillion.

Forte Oil Plc led the day’s 22 losers with a loss of 9.13% or N25.12 to close at N250 per share, followed by Air Service Plc which lost 4.97% or 9 kobo to close at N1.72 per share, while Portland Paints Plc. dropped 4.96% or 13 kobo to close at N2.49 per share.

Union Homes Plc. shed 4.91% or 19 kobo to close at N3.68 kobo and Axamansard Insurance Plc dipped 4.89% or 11 kobo to close at N2.14 per share.

On the other hand, Learn Africa Plc topped the day’s 15 gainers with an addition of 4.94% or 4 kobo to close at 85 kobo per share, Cement Company of Northern Nigeria Plc. followed with a rise of 4.93% or 35 kobo to close at N7.45 per share while Union Dicon increased with a gain of 4.89% or 55 kobo to close at N11.8 per share.

Eterna Plc. garnered 4.62% or 9 kobo to close at N2.04 per share and AIICO Insurance Plc increased by 4.11% or 3 kobo to close at 76 kobo per share.

On the heels of an impressive first quarter performance, Access Bank traded the most shares in terms of volume, accounting for 55.5 million shares valued at N216.8 million, followed by Guaranty Trust Bank with an exchange of 11.1 million shares worth N177.65 million, while Skye Bank traded 10.3 million shares worth N9.92 million.

FBN Holdings traded 7.99 million shares valued at N26.55 million and NEM Insurance transacted 7.4 million shares worth N5.9 million.

In all, investors traded a total of 144.7 million shares valued at N766.02 million in 2,729 deals.