Business & Finance

NSE market equities drop by 0.04%

The equities market of the Nigerian Stock Exchange, NSE declined by 0.04% to close at 26,990.59 points as compared to Friday’s 27,002.15.

Similarly, the Market Capitalisation also fell from N13,033 trillion to close at N13,027 trillion Naira.

Analysis according to Cordros Securities states that the decline was driven by losses in CEMENT CO. OF NORTH.NIG. PLC, ACCESS Bank Plc, and GUARANTY Trust Bank Plc stocks.

Cordros further explained that the Month-to-Date loss settled at -0.04%, while the Year-to-Date loss worsened to -14.13%.

The total volume of trades increased by 8.51% to 246.51 million units, valued at N2.44 billion and exchanged in 3,093 deals.

FCMB Group Plc was the most traded stock by volume at 186.02 million units while Nigerian Breweries was the most traded stock by value at N614.94million respectively.

All sector indices closed negative, save for the Insurance index which appreciated by 1.02% and Consumer Goods which appreciated by 0.71%.

The Industrial Goods index declined by 1.20%, Banking declined by 0.16%, and Oil and Gas Index declined by 0.15%.

Market sentiment, as measured by market breadth, was negative, as 19 stocks recorded declines while 12 tickers recorded gains.

SOVEREIGN TRUST INSURANCE PLC fell 9.09% to close at 0.20k per share and U.A.C.N Plc fell 8.75% to close at N7.30 k per share, recording the largest declines, while UNILEVER NIGERIA PLC. gained 9.94% to close at N17.70k per share and LAW UNION AND ROCK INS. PLC gained 9.93% to close at 0.71k per share, topping the gainer’s list.

Source: Voice of Nigeria