Connect with us

Business

NSE: Sell pressure drags index further down on Christmas Eve

Published

on

Stock market floor

The massive sell-offs recorded by the Nigerian bourse on Monday in response to the Yuletide season continued Tuesday as profit-taking in bellwether stocks in the banking sectors and some medium capitalised stocks worsened the current market downtrend. Twelve losers were recorded compared to ten advancing stocks, triggering a negative market breath. The All Share Index (ASI) declined by 0.09% to close at 26,090.88 basis points, the lowest recorded so far this year. Today’s trade ended with a market capitalisation was N12.596 trillion. Year to date, the market is down by 16.99%.

TOP 5 GAINERS

Unilever led the pack of gainers with 9.65% appreciation and a closing price of N22.15. Cadbury recorded a 6.77% increase to close at N10.25. The share price of UPDC Real Estate Investment Trust rose by 9.72% to close at N3.95. Ecobank Transnational Incorporated appreciated by 5% to finish today’s trade at N6.3. Access Bank completed this category, advancing by 2.06% to N9.9.

TOP 5 LOSERS

Profit-taking in the shares of Stanbic saw it lead the losers’ chart today, plunging by 2.93% to close at N36.4. Dangote Sugar went down by 5.54% with a closing price of N13.65. GTB shed 1.19% to end today’s trade at N29. UACN closed at N8.1, indicating a 2.41% loss while Zenith Bank declined by 0.82% to close at N18.15.

TOP 5 TRADES

A trade volume of 324.400 million shares valued at N1.661 billion was recorded in 1,993 transactions.

The shares of Law Union and Rock Insurance were the most active during today’s trading session as 146.267 million shares worth N73.134 million exchanged hands in 4 transactions. Access Bank came next with 40.566 million of its shares valued at N402.259 million traded in 237 deals. Zenith Bank traded 32.158 million units estimated at N586.379 million in 283 deals. 26.999 million shares of Transcorp estimated at N24.524 million were traded in 60 transactions. FBN Holdings traded 21.193 million shares priced at N127.126 million in 187 deals to complete the top five on the activity chart.

NEW DEVELOPMENTS

Cement Company of Northern Nigeria (CCNN) Plc

Trading in the shares of CCNN was placed on full suspension by The Exchange today. The measure was taken to prevent transactions in the shares of the company “beyond the Effective Date (the date the Certified True Copy (CTC) of the Court Sanction will be registered with the Corporate Affairs Commission) of the Scheme of merger between the Company and Obu Cement Company.”

Sovereign Trust Insurance Plc

The Exchange announced a listing of additional 4,170,411,648 ordinary shares of Sovereign Trust Insurance Plc issued by way of rights issue. The shares were officially listed on Monday 23rd December 2019.

According to the statement, “the additional shares listed arose from the Company’s Rights Issue of 4,170,411,648 ordinary shares of 50 kobo each at N0.50 per share based on one (1) new ordinary share for every two (2) ordinary shares held as at 15 January 2019.”

The rights issue is said to be 72.50% subscribed.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations