Business
NSE LIVE! Equities lose N35bn in tight trades
Nigerian equities opened this week to a tight market situation with a tit-for-tat pricing trend that held the price changes to a balance.
With equal number of gainers and losers, the market showed cautious bargain-hunting but the losses suffered by Dangote Cement weighed in on the overall market position.
With 12 gainers and advancers each, aggregate market value of all quoted equities on the Nigerian Stock Exchange (NSE) declined by N35 billion from N8.734 trillion to close at N8.699 trillion.
Read also: NSE RoundUp! Nigerian equities recover amidst improved corporate earnings
The All Share Index (ASI), the common value-based index that tracks prices at the Exchange, also declined by 0.40 per cent from 25,238.01 points to close at 25,136.63 points. The average year-to-date return stood at -6.47 per cent.
Mobil Oil Nigeria led the losers with a loss of N5 to close at N280. Forte Oil dropped by N2.58 to close at N49.09. Dangote Cement declined by N1 to close at N160 while Stanbic IBTC Holdings dropped by 29 kobo to close at N18.
Total turnover stood at 135.40 million shares valued at N681.16 million in 2,909 deals. The three most active stocks were Diamond Bank, 50.53 million shares, FBN Holdings, 13.20 million shares and Fidelity Bank, which recorded 9.58 million shares.
On the positive side, Total Nigeria led with a gain of N8 to close at N280. Guinness Nigeria rose by N1.97 to close at N67.98 while UAC of Nigeria added 54 kobo to close at N13.74 per share.
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Margret Dickson
March 15, 2017 at 9:28 am
The banking sector is making remarkable improvements lately, with Diamond bank, first bank Nigeria and fidelity bank, its good to know banks dominated the recent NSE ?