Bears reign at Nigerian Stock Exchange as index down 0.38% with Unity Bank, PZ, UCAP emerge top losers

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    Equities trading on the Nigerian Stock Exchange resumed October on a negative note, as the lead indicator, the All Share Index fell by 0.38 percent or 133.89 points to close at 35,306.09 points, reducing the year-to-date return to 31.49 percent, while the market capitalisation declined N45.7 billion to settle at N12.171 trillion.

    The day ended with 22 losers and 18 gainers.

    Unity Bank recorded the highest loss of 5 percent to close the day at 57 kobo per share; PZ trailed with a decline of 4.98 percent to close at N24.23 and United Capital dropped 4.95 percent to close at N2.88 per share.

    Cadbury depreciated 4.82 percent to close at N10.46 per share, while Sterling Bank dropped 4.76 percent to close at N1 per share.

    On the other hand, CI leasing emerged the day’s highest gainer, adding 9.82 percent to close at N1.79 per share.

    It was followed by Learn Africa Plc, which rose by 6.76 percent to close at 79 kobo per share, and Caverton grew by 4.81 percent to close at N1.09 per share.

    NEM appreciated 4.31 percent to settle at N1.21 per share, while Union Bank advanced by 3.99 percent to close at N5.99 per share.

    Investors in 3,850 deals staked N5.8 billion on 634.3 million shares compared to N3.8 billion staked on 235.8 million shares on Friday, the last trading day in the month of September.

    FCMB emerged the most traded stock with the exchange of 370.4 million shares valued at N378 million.

    FBN Holding was next with the trade 34 million shares worth N193.6 billion, while Guaranty exchanged 33.5 million shares valued at N1.340 million.

    Zenith Bank transacted 26.9 million shares at N641.1 million, and United Capital exchanged 25.2 million shares worth N73.3 million.

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    Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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