Forex Trading: NSE started the week with a loss of N163bn
The stock market started the week with a loss of N163bn in market capitalisation at the close of trading on the floor of the Nigerian Stock Exchange on Monday.
In a reports by Punchng, A total of 33 losers emerged, with Ecobank Transnational Incorporated Plc, Nigerian Breweries Plc, Nigerian Aviation Handling Company Plc, PZ Cussons Nigeria Plc and Dangote Sugar Refinery Plc emerging as the top five losers.
This is happening on the first day of foreign exchange trading under the new forex framework.
The NSE market capitalisation dropped to N9.881tn from N10.044tn; the All-Share Index also slid to 28,769.90 basis points from 29,247.27 basis points recorded on Friday.
An aggregate of 416.661 million shares worth N2.252bn were traded in 4,684 deals. The highest index point attained in the course of trading was 29,247.27 basis points, while the lowest and average index points were 27,034.05 and 28,286.61 basis points, respectively.
The share price of ETI depreciated by N0.85 (five per cent) to close at N16.15 from N17, while that of Nigerian Breweries dropped by N7.44 (five per cent) to close at N141.42 from N148.86.
NAHCO shares slid to N4.02 from N4.23, losing N0.21 (4.96 per cent), while those of PZ Cussons depreciated by N1.09 (4.91 per cent) to close at N21.11 from N22.20.
Also, Dangote Sugar shares dropped to N6.66 from N7, losing N0.34 (4.86 per cent).
Other losers were NPF Microfinance Bank Plc, Airline Service and Logistics Plc, Diamond Bank Plc, NEM Insurance Company Nigeria Plc, Fidelity Bank Plc, May & Baker Nigeria Plc, Zenith Bank Plc, FCMB Group Plc, Guinness Nigeria Plc, Berger Paints Plc, Continental Reinsurance Plc, Guinness Nigeria Plc, Berger Paints Plc, Continental Reinsurance Plc, Vitafoam Nigeria Plc, Tiger Branded Consumer Goods Plc and Learn Africa Plc.
Skye Bank Plc, FBN Holdings Plc, Nascon Allied Industries Plc, Dangote Cement Plc, Access Bank Plc, Stanbic IBTC Holdings Plc, Unilever Nigeria Plc, UAC Property Development Company Plc, Wema Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc, Unity Bank Plc, Africa Prudential Insurance Plc and Ashaka Cement Plc also emerged as losers.
A total of 17 stocks made the gainers’ table with Neimeith International Pharmaceuticals Plc, Law Union and Rocks Insurance Plc, Champion Breweries Plc, Glaxo Smithkline Consumer Plc Plc and Honeywell Flour Mill Plc emerging as the top five gainers.
Other gainers were Nestle Nigeria Plc, Axa Mansard Insurance Plc, University Press Plc, Livestock Feeds Plc, AG Leventis Nigeria Plc, Custodian and Allied Plc, International Breweries Plc, Total Nigeria Plc, Transnational Incorporation of Nigeria Plc, Forte Oil Plc, Flour Mills Nigeria Plc and Cadbury Nigeria Plc.
Neimeth shares appreciated by N0.08 (8.89 per cent) to close at N0.98 from N0.90, while those of Law Union and Rocks Insurance gained N0.04 (eight per cent) to close at N0.54 from N0.50.
The share price of Champion Breweries soared to N3.70 from N3.41, gaining N0.25 (7.25 per cent), while that of Glaxo Smithkline posted a gain of N0.78 (5.49 per cent) to close at N15 from N14.22.
Honeywell shares also recorded a gain of N0.09 (five per cent) to close at N1.89 from N1.80.
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