Stock Market Begins Oct with 0.37% Losses

The stock market resumed monthly trading activities on the downswing yesterday after the nation observed public holiday to commemorate independence anniversary.
Consequently, the market performance indices, NSE ASI and market capitalisation depreciated by 0.37 per cent each.

At the close of business, there were 18 gainers as against 22 losers. The downswing according to market watchers was due to sustainable profit takings by investors.
Consequently, the All-Share Index fell by 133.89 basis points or 0.37 per cent from 35.306.09 index points last Friday to 35.439.98, while the market capitalisation of equities depreciated by N45 billion or 0.37 per cent to close at N12.171 trillion from N12.216 trillion.

Further analysis of the day’s trading showed that C& I Leasing Plc topped the day’s gainers’ table with 9.82 per cent to close at N1.79 per share, while Learn Africa Plc followed with 6.76 per cent to close at 79 kobo per share. Carverton Plc added 4.81 per cent to close at N1.09 per share.
On the flip side, Unity Bank Plc led the losers’ chart with a drop of five per cent to close at 57 kobo per share. PZ Cussons Plc shed 4.98 per cent each to close at N24.23 per share. United Capital Plc trailed behind with 4.95 per cent to close at N2.88 per share.

On the activity chart, other financial institutions sub-sector of the financial services segment dominated in volume terms with 410.3 million shares exchanged in 534 deals. The sub sector was enhanced by the activities in the shares of FCMB Plc and United Capital Plc. Banking sub-sector boosted by the activities on the shares of GTB Plc and UBA Plc trailed with 108.1 million units traded in 1,047 deals. In all, investors exchanged a total of 634.3 million shares exchanged in 3,850 deals.