NSE Index Sheds 0.14% On Intensified Bear Momentum

Transactions on the floor of the Nigerian Stock Exchange, NSE, flagged off the new week on Monday, July 11, in the reds as the All Share index dropped 0.14 percent to close the day at 28,813.51 basis points, compared to 147.08 points or 0.51 per cent shed in previous session to close at 28,854.98 basis points.

At the close of the day’s trading session, market breadth closed with 16 gainers to 30 losers. Transcorp topped the losers chart with a loss of 9.38 percent or 15 kobo to close at N1.45 per share, while Skye Bank dipped for the third consecutive day following the CBN intervention by 9.20 percent or 8 kobo to close at 79 kobo per share.

Diamond Bank Plc shed 7.96 percent or 16 kobo to close at N1.85 per share and Oando Plc dropped 7.45 percent or 60 kobo to close at N7.45 per share, while WAPCO Plc dropped 5.03 percent or N3.20 to close at N60.45 per share.

On the other hand, Guaranty Trust Bank Plc gained 4.35 percent or one naira to close at N24 per share. NEM Plc gained 3.96 percent or 4 kobo to close at N1.05 per share, while Cutix Plc garnered 3.03 percent or 5 kobo to close at N1.70 per share.

An analysis of the activity chart showed that investors, in 4,865 deals sold a total of 275.4 million shares valued at N3.4 billion, in contrast to a total of 234.96 million shares valued at N2.29 billion traded last Friday by investors in 4,145 deals.