NSE opens December trading with 0.04 per cent marginal loss

The Nigerian Stock Exchange (NSE) resumed trading for the month of December on Monday with a marginal loss of 0.04 per cent.

Specifically, the All-Share Index lost 11.56 points or 0.04 per cent to close at 26,990.59 compared with 27,002.15 achieved on Friday.

In the same vein, the market capitalisation which opened at N13.032 trillion dipped N5 billion or 0.04 per cent to close at N13.027 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Cement Company of Northern Nigeria (CCNN), UAC of Nigeria (UACN), GlaxoSmithKline Consumer Nigeria, Guaranty Trust Bank and FCMB Group.

In spite of the decline seen in the first trading day of the week, analysts at United Capital Plc stated: “This week, we expect investors to lock in value stocks with attractive dividend yields in anticipation of the December rally.”

Market breadth was negative, with 12 gainers against 17 losers.

Sovereign Trust Insurance led the losers’ chart in percentage terms, dropping by 9.09 per cent to close at 20k per share.

UACN followed with a decline of 8.75 per cent to close at N7.30, while Unity Bank lost 8.45 per cent to close at 65k per share.

Cornerstone Insurance shed 7.59 per cent to close at 73k, while FCMB Group declined by 5.47 per cent to close at N1.90 per share.

Conversely, Unilever led the gainers’ table in percentage terms, gaining 9.94 per cent to close at N17.70 per share.

Law Union and Rock Insurance came second with 9.23 per cent to close at 71k, while Chams appreciated by 8.57 per cent to close at 38k per share.

Courteville increased by 8.33 per cent to close at 26k, while International Breweries appreciated by 6.38 per cent to close at N10 per share.

However, total volume traded appreciated by 8.51 per cent with an exchange of 246.51 million shares valued at N2.44 billion traded in 3,093 deals.

This was against a turnover of 227.18 million shares worth N3.66 billion exchanged in 3,246 deals on Friday.

Transactions in the shares of FCMB Group topped the activity chart with 97.77 million shares valued at N186.02 million.

Zenith Bank came second with 21.78 million shares worth N406.84 million, while FBN Holdings accounted for 15.19 million shares valued at N102.81 million.

Nigerian Breweries sold 12.05 million shares worth N614.94 million, while United Bank for Africa (UBA) accounted for 11.97 million shares valued at N84.15 million.

(NAN)