NSE Index Drops As Market Remains in Snooze Mode

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Monday, August 29, closed on a negative note declining by 0.30 percent compared with a gain of 0.26 percent last Friday.

The All Share Index lost 82.5 points to close at 27,368.41 points compared to 70.96 points added last Friday to close at 27,450.91 points increasing the year to date losses to -4.45 percent from -4.16 percent recorded previously.

The day’s trading session closed with 10 gainers to 17 losers, with aUnity Bank Plc leading the days retreating stocks having dropped 9.52 percent or 8 kobo to close at 76 kobo per share.

Nigerian Aviation Handling Company Plc lost 5.00 percent or 17 kobo to close at N3.23 per share, Diamond Bank Plc fell 4.46 percent or 5 kobo to close at N1.07 per share, N.E.M Plc declined by 4.44 percent or 4 kobo to settle at 86 kobo per share, and United CAP Plc depreciated by 4.22 percent or 10 kobo to close at N2.27 per share.

On the flip side, Nigerian Police Force Microfinance Bank Plc led the day’s 10 advancing stocks having improved by 4.21 percent or 4 kobo to close at 99 kobo per share, 7up Plc added 3.52 percent or N3.98 to close at N116.98 per share , Champion Breweries Plc followed with a growth of 3.45 percent or 9 kobo to close at N2.70 per share, Wema Bank Plc gained 3.13 percent or 2 kobo to close at 66 kobo per share, and Honeywell Flour Mills Plc appreciated by 2.94 percent or 4 kobo to close at N1.40 per share.

The top three traded stocks were: First Bank Nigeria Holdings Plc with the sale of 11.7 million shares worth N34.9 million, First City Monument Bank Plc followed, trading 8.8 million stocks valued at N9.3 million and Zenith Bank Plc exchanged 7.8 million shares worth N119.9 million.

The total value of stocks traded on the floors of the bourse amounted to N711.1 million, while a total of 83.8 million shares exchanged hands in 2,279 deals.