Trading on the Nigerian Stock Exchange (NSE) resumed after the Easter holidays on Tuesday with a loss of 0.03 percent.
Specifically, the All-Share Index shed 10.31 points or 0.03 percent to close at 30,076.00 compared with 30,086.31 recorded on Thursday.
However, the market capitalization rose by N2 billion to close at N11.303 trillion against N11.301 trillion on Thursday.
The growth posted by the market capitalization was as a result of the listing of Skyway Aviation Handling Company (SAHCOL).
The company listed by Initial Public Offering (IPO) a total of 1.354 billion ordinary shares at a listing price of N4.65 per share.
The listing added N6.29 billion to the market capitalization of the Exchange, further deepening the Nigerian capital market.
Performance was influenced by price depreciation in medium and large capitalized stocks, among which are Guinness, Unilever, Forte Oil, Nigerian Breweries and Guaranty Trust Bank.
According to Analysts at Afrinvest Limited, an independent investment banking firm: “In the near term, we anticipate that corporate earnings will have a significant impact in the domestic bourse as investors will continue to take position in attractive stocks ahead of earnings expectations.”
However, market breadth closed positive with 20 gainers against 17 losers.
Japaul Oil & Maritime Services recorded the highest price gain of 10 percent, to close at 22k per share.
Dangote Flour Mills followed with a gain of 9.81 percent, to close at N11.75, while First Aluminium Nigeria rose by 9.76 percent to close at 45k, per share.
Vitafoam Nigeria appreciated by 9.71 percent to close at N3.84, while Trans Nationwide Express went up by 9.46 percent to close at 81k, per share.
On the other hand, Guinness led the losers’ chart by 10 percent, to close at N54, per share.
Forte Oil followed with a decline 9.83 percent to close at N24.30, while Unilever declined by 8.82 percent to close at N31, per share.
Custodian Investment declined by 5.51 percent to close at N6, while NPF Microfinance Bank down by 5.44 percent, to close at N1.39, per share.
In spite of the drop in index, total volume traded went up by 39.3 percent with an exchange of 316.12 million units, valued at N3.65 billion traded in 3,888 deals.
This was in contrast with 226.98 million shares worth N1.74 billion achieved in 3,399 deals on Thursday.
An analysis of the activity chart shows that Japaul Oil traded with 69.05 million shares valued at N14.13 million.
Unilever followed with 41.21 million shares worth N1.28 billion, while Sterling Bank traded 38.86 million shares valued at N104.92 million.
United Bank for Africa (UBA) traded 34.27 million shares worth N234.49 million, while Access Bank transacted 24.89 million shares valued at N170.97 million.