Equities Trading Kick Starts New Week in Red Zone as NSE indices Shed 0.38%

Equities trading at the Nigerian Stock Exchange, NSE resumed the week on Monday, April 18, on a bearish note as benchmark indices plunged by 0.38 percent.

The NSE All-Share Index opened at 24,719.27 points, lost 93.25 points to close at N24, 626.02 points, while Market Capitalization closed at N8.470 trillion against N8.503 trillion recorded on Friday.

Conoil Plc. led the day’s 20 decliners with a loss of 9.37% or N1.70 to close at N16.45, followed by Oando Plc. which decreased by 8.33% or 38 kobo to close at N4.18 per share. Cement Company of Northern Nigerian likewise lost 4.98% or 35 kobo to close at N6.68 per share, while Law Union Plc closed 4.92% or 3 kobo lower than its previous trading value to close at 58 kobo per share. Cutix Plc also dropped 4.86% or 7 kobo to close at N1.37 per share.

Transnationwide Express Plc. led the day’s twelve (12) gainers with an increase of 9.09% or 9 kobo to close at N1.08 per share followed by Diamond Bank Plc. which added 8.46% or 11 kobo to close at N1.41 per share. Caverton Plc. grew by 4.85% or 8 kobo to close at N1.73 per share while Stanbic IBTC Plc. and May &Baker Plc gained 4.76% each to close at N14.3 and 88 kobo per share respectively.

In summary, investors on the floor of the Exchange, traded a total of N124.3 million shares valued at N552.7 million in 1,588 deals compared to 437.9 million shares valued at N2.78 billion exchanged in 2,647 deals previously.

There was a service disruption reported by the bourse, but it reportedly maintained open communication with trading community throughout the incident and thus extended trading hours to 4.00p.m.