NSE Market Indices drops by 0.22% as Easter Approaches

The Nigerian equities market resumed trading for the week on Monday, closing with a decline of 0.22 per cent, ahead of Easter celebration.

The All Share Index (ASI) shed 64.56 points, representing a dip of 0.22 per cent to close at 29,495.91 compared with 29,560.47 achieved on Friday.

Similarly, investors’ wealth reduced by ₦24 billion or 0.22 per cent as market capitalisation closed lower at ₦11.079 trillion against ₦11.103 trillion recorded on Friday.

The performance was influenced by price depreciation in medium and large capitalised stocks according to NAN.

Among these are Nestle Nigeria, Dangote Cement, Flour Mills Nigeria, Ecobank Transnational Inc (ETI) and United Bank for Africa (UBA).

Index (RSI) hovers below its oversold region.

The market breadth closed positive with 26 gainers against 17 losers.

Initiates recorded the highest price gain of 9.59 per cent to close at 80k per share.

Dangote Flour Mills followed with a gain of 9.52 per cent to close at ₦9.20, while First Aluminium rose by 9.38 per cent to close at 35k per share.

Cadbury appreciated by 8.91 per cent to close at ₦11, while Consolidated Hallmark Insurance went up by 8.33 per cent to close at 26k per share.

Conversely, Associated Bus Company led the losers’ chart by 10 per cent to close at 36k per share.

A.G. Leventis (Nigeria) followed with a decline of 9.68 per cent to close at 28k, while Niger Insurance declined by 9.09 per cent to close at 20k per share.

Royal Exchange declined by eight per cent to close at 23k, while United Bank for Africa (UBA) was down by 4.62 per cent to close at N6.20 per share.

Total volume traded went down by 4.6 per cent to 223.78 million shares valued at ₦1.79 billion exchanged in 3,175 deals.

This was in contrast to a turnover of 232.77 million shares worth ₦1.97 billion transacted in 2,677 deals on Friday.

Sovereign Trust Insurance was the toast of investors with 45.72 million shares worth ₦10.96 million.

Chams accounted for 36.84 million shares valued at ₦10.93 million, while Union Bank of Nigeria traded 26.22 million shares worth ₦178.41 million.

Guaranty Trust Bank sold 14.36 million shares valued at ₦503.35 million, while UBA transacted 13.65 million shares worth ₦86.38 million.