Stocks market indices drop by 1.53%

Weekly activities at the Nigerian Stock Exchange (NSE) resumed on a depressed note on Monday as the market indices dropped by 1.53 per cent.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed N233bn or 1.53 per cent to close at N15.068tn from the N15.301tn recorded on Friday.

The All-Share Index which opened at 42,638.83, lost 650.65 points or 1.53 per cent against the 41,988.18 achieved on Friday.

They were led by Nestle Nigeria which lost N58.20 to close at N1, 341.80 per share.

Dangote Cement trailed with a loss of N8.60 to close at N251.30, while the Nigerian Breweries was down by N2.10 to close at N128.90 per share.

PZ Industries dropped N2 to close at N23, while Enamel West Africa declined by N1.15 to close at N22.10 per share.

On the other hand, International Breweries led the price gainers’ table, appreciating by N1.25 to close at N59 per share.

GTB followed with a gain of N1 to close at N47.50, while CCNN added 35k to close at N18.50 per share.

Fidson Healthcare gained 22k to close at N4.69, while Mansard Insurance rose by 13k to close at N2.78 per share.

In all, investors exchanged 287.18m shares valued at N2.29bn in 4,646 deals.

NAN reports that this was in contrast to the 815.85mn shares worth N8.06bn traded in 4,808 deals on Friday.

The banking equities maintained its leadership as the most active with Skye Bank dominating with 57.99m shares worth N63.21m.

Diamond Bank followed with 40.33 million shares valued at N106.72m, while FCMB Group traded 35.34 million shares worth N89.42m.

Jaiz Bank traded 18.98 million shares valued at N20.37m, while Zenith International Bank sold 15.65 million shares worth N497.02m. (NAN)