Equities market dips by 0.16%

Salamatu Ejembi Lagos

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The Nigerian Stock Exchange celebrated the exemplary life of an icon Pa Akintola Williams, a founding father of  NSE (middle), flanked on the left by Otunba Abimbola Ogunbanjo, National Council President, NSE and Chief (Dr.) Chris Ogunbanjo, and on the right by Mr. Oscar N. Onyema, OON, Chief Executive Officer of the NSE and Mr. Aigboje Aig-Imoukhuede, CON, Ex-Officio, NSE, in a symbolic Closing Gong ceremony at the Exchange. Pa. Akintola Williams, is the only surviving signatory to the original Memorandum and Articles of Association of The Nigerian Stock Exchange at the founding of the NSE on September 15, 1960. 

The Equities market of the Nigerian Stock Exchange declined by 0.16% with the All Share Index closing at 27,630.56 basis points from Friday’s 27,675.04 basis points.

The Market Capitalisation also dropped from N13.472 trillion on Friday to N13.450 trillion on Monday.

Monday’s trading also marked the end of trading for the month of September, and analysis according to Cordros Securities states that “the market barely closed the month in green (+0.38% m/m), its first monthly gain since February 2019, while the Year-to-Date loss worsened to 12.09%.

The total volume of trades stood at 194.8 million units, valued at N3.065billion, and exchanged in 2,910.00 deals with GUARANTY BANK PLC being the most traded stock by volume and value at N58.49 million units.

Performance across all sectors were positive, as the Insurance Index which grew by +1.85%, Banking Index which grew by +1.56%, Consumer Goods Index grew by +1.26%, Industrial Goods Index grew +0.91% and Oil & Gas Index grew +0.35%.

Market sentiment, as measured by market breadth, was balanced with both GAINERS’ and losers having 18 stocks each.

CAP PLC which opened at 23.25k per share and closed at 25.55k per share, gained 2.30k or 9.98% and CONTINENTAL REINSURANCE PLC  which opened at N1.89k per share and closed at N2.07k per share, gained 0.18k or 9.52% topped the gainers’ list, while JOHN HOLT PLC which had a previous closing price of 0.61k per share and a present closing price of 0.55k, fell by 0.06k or 9.84% and ECOBANK TRANSNATIONAL INCORPORATED having commenced transactions at N8.90k and closed at N8.05k, falling by 0.85k or 9.55% recorded the largest declines.