Home Banking, Finance & Investment NSE resumes from Easter holidays with N78bn loss

NSE resumes from Easter holidays with N78bn loss

by Blessing Ubani
NSE resumes from Easter holidays with N78bn loss

The Nigerian stock market resumed after the Easter public holidays on Tuesday with a loss of 0.39 per cent due to persistent bearish trend, the News Agency of Nigeria reports.

Specifically, the All-Share Index lost 150.13 points or 0.39 per cent to close 38,766.61 compared with 38,916.74 achieved on Thursday.

Also, the market capitalisation lost N78bn to close at N20.28tn from N20.361tn achieved before the break on Thursday.

The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which are Guinness Nigeria, MRS Oil Nigeria, Guaranty Trust Bank, BUA Cement and Aluminium Extrusion Industries.

Market sentiment turned negative with 21 laggards, relative to 14 gainers.

MRS Oil led the losers’ chart in percentage terms by 9.92 per cent to close at N10.90 per share.

Aluminium Extrusion Industries followed with a decline of 9.88 per cent to close at N7.30, while Consolidated Hallmark Insurance shed 9.38 per cent to close at 29k per share.

Sterling Bank shed 8.65 per cent to close at N1.69, while Guinness Nigeria depreciated by 8.08 per cent to close at N33 per share.

Conversely, Eterna dominated the gainers chart in percentage terms, gaining 9.91 per cent to close at N5.99 per share.

Linkage Assurance followed with 9.72 per cent to close at 79k and Royal Exchange rose by 9.09 per cent to close at 36k per share.

Japaul Gold and Ventures appreciated by 8.89 per cent to close at 49k, while FCMB Group gained 4.59 per cent to close at N2.96 per share.

Also, the total volume of trades declined by 6.19 per cent with an exchange of 224.59 million valued at N2.14bn in 4,675 deals.

This was against 239.42 million shares worth N2.32bn exchanged in 4,445 deals on Thursday.

Transactions in the shares of UACN topped the activity chart with 34.05 million shares valued at N337.61m.

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