NSE’s key performance indicators open week with 0.39% loss

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NSE

THE nation’s bourse resumed trading for the week on Monday on a bearish trend with the crucial indices dropping by 0.39 per cent.

Specifically, the All-Share Index (ASI) lost 94.57 points or 0.39 per cent to close at 23,950.83 compared with 24,045.40 on Friday.

Similarly, the market capitalisation which opened the Week at N12.531 trillion shed N49 billion or 0.39 per cent to close at N12.482 trillion.

The downturn was due to losses recorded in medium and large capitalised stocks, amongst which are: Chemical and Allied Products, Guaranty Trust Bank, Union Bank of Nigeria, Zenith Bank and Honeywell Flour Mill.

Analysts at United Capital Plc expected developments surrounding the reopening of the world economy and the performance of crude oil prices to influence the direction of the local equity market, this week.

They noted that with a number of first quarter (Q1), 2020 results still expected, investors were likely to take position in select stocks with positive results.

A breakdown of the price movement chart indicates that CAP led the losers’ chart in percentage terms, dropping by 9.83 per cent to close at N20.65 per share.

Wapic Insurance came second with a loss of 9.09 per cent to close at 30k, while UACN Property shed 8.70 per cent to close at 84k per share.

Union Bank of Nigeria lost 8.57 per cent to close at N6.40, while Honeywell decreased by 8.41 per cent to close at 98k per share.

Conversely, Unilever dominated the gainers’ table in percentage terms, growing by 10 per cent to close at N11.55 per share.

McNichols followed with a gain 9.52 per cent to close at 46k, while Jaiz Bank rose by 9.09 per cent to close at 60k per share.

Eterna increased by 7.87 per cent to close at N2.33, while C&I Leasing rose by 6.67 per cent to close at N4.80 per share.

Also, the total volume of shares decreased by 0.64 per cent with an exchange of 207.25 million shares valued at N1.78 billion traded in 4,460 deals.

This was in contrast with a turnover of 208.59 million shares worth N2.19 billion transacted in 4,320 deals on Friday.

Transactions in the shares of FBN Holdings topped the activity chart with 44.11 million shares valued at N207.57 million.

Guaranty Trust Bank followed with turnover of 27.69 million shares worth N585.02 million, while Regency Alliance Insurance accounted for 20.69 million shares valued at N4.14 million.

AIICO Insurance traded 14.45 million shares worth N13.30 million, while Zenith Bank transacted 12.27 million shares valued at N185.31 million. (NAN)

– May 11, 2020 @ 18:09 GMT |

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