Equities trading at Nigerian bourse down by 0.91 as Vitafoam, AXA Mansard, SCOA shed weight

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By Anene Peters

Equities trading on the Nigerian Stock Exchange (NSE) commenced the new trading week on a bearish note, as major market indicator- the All-Share Index (ASI) declined 0.91 percent or 336.12 points to close at 36,584.44 points.

Even though market breadth closed positive with 26 gainers against 16 losers, the market capitalisation towed the ASI path to record a decline of N115.9 billion and settled at N12.609 trillion, trimming year-to-date return to stand at 36.13 per cent

Vitafoam led the day’s losers with a loss of 5 per cent to close at N2.66 per share, Mansard shed 4.88 per cent to settle at N1.95 per share, while SCOA declined by 4.74 per cent to close at N3.42 per share. Paintcom likewise fell by 4.62 per cent to close at 62 kobo per share, and Skye Bank depreciated by 4.48 per cent to end the day at 64 kobo per share.

The gainers’ chart was led by Flourmill, which increased 8.73 per cent to close at N31 per share, It was trailed by Transcorp, which advanced by 5.97 per cent to settle at N1.42 per share, Honeywell Flourmills and Dangote Flour appreciated 5 per cent each to close at N2.10 and N6.30 per share, while Learn Africa added 4.94 per cent to close at 85 kobo per share.

AIICO emerged the most active stock of the day with 131 million shares sold at N74.7 million. GTBank followed with the sale of 61.2 million units for N2.5 billion, and Zenith Bank, traded 22.7 million shares valued at N542.2 million. Unity Kapital Assurance sold 16.2 million shares worth N8 million, while UBA exchanged 11.2 millio shares at N104.7 million.

In all, investors transacted a total of 368.4 million shares in 3,729 deals valued at N6.3 billion compared with 236.6 million shares traded in 3,803 deals last Friday worth N4.8 billion.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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