Stock market opens week with 0.38 per cent loss
Trading on the equities market of the Nigerian Stock Exchange (NSE) closed yesterday on a negative note, as NSE All Share Index (ASI) depreciated by 0.38% to close at 25,244.65 basis points, as against 0.07% appreciation recorded previously. Its Year-toDate (YTD) returns currently stands at -6.07%.
Market capitalisation shed N33.1 billion to close at N8.71 trillion while market breadth closed negative as BETAGLAS led 15 gainers against 18 losers topped by VITAFOAM at the end of today’s session - an unimproved performance when compared with previous outlook.
It would be recalled that NSE All-Share Index and Market Capitalisation depreciated by 1.38% and 1.79% to close last week at 25,340.02 and N8.770 trillion respectively.
Similarly, all other indices finished lower last week with the exception of the NSE Banking and NSE Insurance indices that appreciated by 0.44% and 0.90% respectively, while the NSE ASeM index closed flat.
Market turnover yesterday also closed negative as volume moved down by 29.65% against 40.84% uptick recorded in the previous session. GUARANTY, UBA and ETRANZACT were the most active to boost market turnover. GUARANTY and PRESCO topped market value list. NEM led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.
Meanwhile, the President and Chief Executive Officer of Transcorp, Mr Emmanuel N Nnorom, has announced the resignation of one of its directors, Mr Chibundu Edozie, from the board of the conglomerate.
Edozie whose resignation took effect from September 29, 2016 was a non-executive director for 5 years.