NGX All-Share Index extends losses, down by 0.33%
The All-Share Index of the Nigerian Exchange Ltd. dropped by 0.33 per cent at the first trading of the week, closing at 46,687.85 points.
The 46,89.85 points from the 46,842.86 points recorded on April 1, represents a decline of 0.33 per cent.
The shares of telecommunication company MTN Nigeria and Tier-1 banks, which include; First Bank of Nigeria Holdings, United Bank for Africa, Zenith Bank and Access Bank Holdings contributed to the overall market’s weak performance.
Consequently, the year-to-date return fell to 9.30 per cent. Also, the market capitalisation shed N83.57 billion to close at N25.17 trillion as against N24.253 trillion posted on April 1.
“As expected, market started off mixed with a slight recovery in market sentiment, as investors continue to trade in line with earnings report.
“We anticipate further mixed sessions amid bargain hunting activities across board,” said Analysts at Vetiva Research. Market breadth was positive with 22 stocks against 18 losers.
Redstar Express led the gainers chart, closing with 10 per cent to close at N2.97, followed by NAHCO that grew by 9.79 per cent to close at 4.71k per share.
Meyer increased by 9.72 per cent to close at 79k per share, while Veritask gained 9.52 per cent to close at 23k per share. Also, UPDC appreciated by 9.21 per cent to close at 83k per share.
On the losers chart, Regal Insurance led with a drop of 9.68 per cent to close at 28k per share, followed by Japaul Gold that depreciated by 8.82 per cent to close at 31k per share.
WAPIC down by 6.82 per cent to close at 41k as Linkage Insurance dropped by six per cent to close at 47k per share. In addition, Jaiz Bank shed 5.71 per cent to close at 60k per share.
In terms of activity levels, total volume dropped by 14.7 per cent to close at 219.5 million unit shares from 257.33 million posted on April 1.
Also, in terms of value, trading decreased by 32.57 per cent to close at N1.93 billion in 5,168 deals from N2.86 billion in 4,586 deals recorded on Friday.
Zenith Bank was the most volume traded stock with 12.79 million units of shares worth N278.4 million, followed by MTN Nigeria traded stock of 1.24 million units of share worth about N264.13 million.
Guaranty Trust Holding Company (GTCO) sold 9.7 million units of shares worth N250.36 million, followed by ACCESSCORP traded stock of 11.96 million units of shares worth about N211.37 million.
(NAN)
More from Peoples Gazette
Economy
Buhari regime will continue to borrow without subsidy removal: Femi Adesina
“You know how much could have been saved if the subsidy was removed and how it could have been diverted to other areas and spheres of national life.
Economy
Olu of Warri donates 1,000 PoS machines to residents
“I pray that this will bring blessings to all the recipients…God will give you the wisdom…to know how to use it,” stated the monarch.
Economy
FCCPC to prosecute recalcitrant loan sharks
The FCCPC says it will prosecute any digital money lender (loan shark) that violates the law.
Economy
Gunboat was in EFCC’s custody when it disappeared: NIMASA
This vessel was not in our jetty and under our management…the crew onboard does not report to NIMASA but Global West management, its owners.”
States
Police arraign hotel manager for raping corps member
The manager engaged her in a conversation about her plan after the service year, adding that from that point, the manager started molesting her.
Sport
Louis Van Gaal reveals he is suffering from cancer
Van Gaal revealed how difficult it was to hide the ailment from his players whilst being manager of the national team.
Abuja
Sheikh Nuru Khalid expelled from Apo Mosque for being unremorseful
Sheikh Khalid had criticised the Buhari regime’s laxity in tackling insecurity, and condemned Mr Buhari’s lack of empathy for the victims of the Abuja-Kaduna train attack.
