NSE Index Drops 0.27% as Trading Returns Southward

The recovery on the floor of the Nigerian Stock Exchange, NSE, was short-lived as trading, on Monday, October 31, Kicked off the new week on a negative note.

As a result of the negative run which was apparently caused by some weak third quarter results on the bourse, the All Share Index fell by 0.27 percent to close at 27,220.09 points on Monday.

Likewise market capitalisation shed N25.5 billion to close at N9.350 trillion from N9.375 trillion recorded in the previous trading session.

Market breadth turned negative with 16 gainers against 29 losers as year to date losses increased to 4.97 percent. Transcorp Plc led the day’s declining stocks with a depreciation of 9 percent to close at 91 kobo per share.

Meyer Paints followed with a decline of 8.79 percent to close at 83 kobo per share while 7up Plc lost 5 percent or N7.94 to close at N150.86 per share. Wapco (Lafarge) Plc and Oando Plc also shed 5 percent each to close at N47.50 and N4.94 per share respectively.

Conversely, Learn Africa Plc led the day’s advancers with a growth of 9.38 percent to close at 70 kobo per share. Dangote Flour Plc added 8.83 percent to close at N3.82 per share and AIICO Insurance Plc followed with a gain of 8.62 percent to close at 63 kobo per share.

MRS Oil Nigeria Plc improved by 8.38 percent to close at N43.35 per share and Continental Reinsurance Plc gathered 7.92 percent to close at N1.09 per share.

Transactions in the shares of Wapic Insurance topped the activity chart with 26.9 million shares valued at N13.5 million. Sterling Bank Plc followed with 26.3 million shares worth N23.7 million, while UBA Plc traded 21.7 million shares valued at N92.1 million.

Meanwhile, the total volume traded appreciated by 48 percent to 219.9 million shares valued at N1.9 billion traded in 3,955 deals as against 148.4 million shares, valued at N1.08 billion, and traded in 2,073 deals last Friday.