NSE index drops by 0.90%, amid heavyweight losses


The All-Share Index of the Nigerian Stock Exchange (NSE) commenced trading for the week southward, amid losses by some heavyweight stocks.

The All-Share Index on Monday lost 287.85 points or 0.90 per cent to close at 31,636.66 compared with 31,924.51 achieved on Friday.

The market capitalisation followed suit, dropping by N108 billion to close at N11.797 trillion against N11.905 trillion on Friday.

Nestle topped the losers’ chart with a loss of N30 to close at N1,480 per share.

Okomu Oil trailed with a loss of N1 to close at N79, while Lafarge Africa declined by 45k to close at N12.50 per share.

Ecobank Transnational Incorporated lost 30k to close at N13.70, while International Breweries was down by 30k to close at N26.70 per share.

On the other hand, NASCON led the gainers’ table appreciating by N1.70 to close at N21.70 per share.

Cadbury followed with a gain of N1.10 to close at N12.10, while Zenith Bank gained 30k to close at N22.75 per share.

Flour Mills added 25k to close at N19.25, while FBN Holdings improved by 10k to close at N8.20 per share.

Also, the volume of shares traded closed lower with an account of 128.37 million shares worth N2.39 billion in 2,752 deals.

This was in contrast with a turnover of 233.29 million shares valued at N2.27 billion achieved in 3,110 deals on Friday.

FBN Holdings was the most active stock, exchanging 34.06 million shares worth N279.19 million.

Zenith Bank followed with an account 21.30 million shares valued at N484.39 million, while United Bank for Africa sold 17.53 million shares worth N134.25million.

Access Bank traded 11.46 million shares valued at N69.22 million, while Guaranty Trust Bank exchanged 5.66 million shares worth N211.84 million.

Suzan O