NSE Index Drops 0.11% Over Dismal Trading

Transactions on the floor of the Nigerian Stock Exchange, NSE, closed Monday, August 8, in the reds as the All-Share Index dipped 30.88 points or 0.11 percent to close at 27,394.98 basis points compared with 325.48 points or 1.17 percent decline recorded in the prior trading session to close at 27,425.86 basis points.

Similarly, market capitalisation slumped by N10.6 billion to close at N9.408 trillion compared with a loss of N112 billion on Friday at N9.419 trillion.

Dangote Flour led the day’s 18 declining stocks with a loss of 5.25 percent or 23 kobo to close at N4.15 per share. Total Oil Plc followed with a decrease of 4.99 percent or N12.07 to close at N229.95 per share, while MRS Plc dipped 4.98 percent or N2.13 to close at N40.60 per share.

Berger Paints Plc dropped 4.98 percent or 38 kobo to close at N7.25 per share and Custody and Alliance Plc lost 4.76 percent or 19 kobo to close at N3.80 per share.

Conversely, FCMB Plc topped the day’s 15 gainers with an appreciation of 5.51 percent or 7 kobo to close at N1.34 per share, Dangote Sugar Plc followed having gained 4.96 percent or 33 kobo to close at N6.98 per share and NPF Micro Finance bank Plc garnered 4.44 percent or 4 kobo to close at 94 kobo per share.

AIICO Insurance Plc improved by 4.41 percent or 3 kobo to close at 71 kobo per share and Airservice Plc added 3.83 percent or 8 kobo to close at N2.17 per share.

FBN Holdings was the most active, accounting for 32.9 million shares worth N108.5 million, Access came second with a total of 17.1 million shares valued at N95.4 million and Fidelity third with a sale of 8.4 million shares worth N8.8 million.

The volume of shares traded in the course of the day’s session was 118.4 million worth N1.27 billion and exchanged in 2,899 deals an un-improved performance when compared to 120.84 million shares worth N1.27 billion bought and traded by investors in 3,307 deals last Friday.