Nigeria Stock Exchange Drops By 0.13% as Bearish Momentum Resurfaces

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Transactions on the floor of the Nigerian Stock Exchange, NSE, opened the fresh week with southward movements as the All Share Index shed 0.13 percent to close at 27,598.54 points on Monday, June 6, against 1.66 percent gained last Friday to close at 27,634.42 points.Similarly, Market Capitalization likewise dropped N13 billion to close at N9.479 trillion against N154.8 billion gained previously to close at N9.491 trillion.

Diamond Bank led the activity chart for the day following the sale of 15 million shares worth N31.7 million. FCMB followed closely exchanging 14.8 million shares amounting to N24.4 million while Access traded 14 million shares valued at N78.5 million.

Vitafoam led the day’s losers’ chart 24 with a loss of 6.32 percent or 28 kobo to close at N4.15 per share, Diamond Bank Plc trailed with a depreciation of 6.28 percent or 14 kobo to close at N2.09 per share.

MayBaker Plc dropped 5 percent or 6 kobo to close at N1.14 per share, Stanbic IBTC Plc fell 4.95 percent or 78 kobo to close at N14.97 per share and Union Bank Nigeria Plc declined by 4.94 percent or 27 kobo to close at N5.20 per share.Conversely, Union Dicon Plc. led the day’s 16 gainers as it added 10.22 percent or N1.27 to close at N13.70 per share followed by Axamansard Plc which gained 5 percent or 10 kobo to close at N2.10 per share, while Ashaka Cement Plc increased by 4.99 percent or N1 to close at N21.03 per share. Nascon Allied Industries Plc and McNichols Plc also appreciated by 4.75 percent and 4.51 percent to close at N8.38 and N1.39 per share respectively.

At the end of trading, investors in 3,695 deals had traded a total of 142.34 million shares for N1.43 million compared to 243.8 million shares worth N2.43 billion exchanged in 3,942 deals previously.

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