31 stocks tumble as week opens
The Nigerian equities market recorded 31
laggards at the close of trading on the floor of the Nigerian Stock
Exchange on Monday, as the NSE All-Share Index declined by 0.9 per cent.
It started the week in the red, as the
year-to-date return fell to 35.14 per cent. A total of 11 gainers
emerged, as the market turnover and volume of transactions declined by
8.36 per cent and 17.60 per cent, respectively.
The market recorded trading on 348.122 million shares valued at N2.977bn in 3,276 deals.
Total Nigeria Plc topped the gainers’
chart, rising by 9.09 per cent to close at N236.50. This was followed by
Airline Services and Logistics Plc, Cutix Plc, Vitafoam Nigeria Plc and
Continental Reinsurance Plc, which appreciated by 4.99 per cent,4.98
per cent, 4.49 per cent and 3.88 per cent, respectively.
However, Trans-national Express Plc and
Mobil Oil Nigeria Plc recorded the highest loss, declining by five per
cent apiece, to close at N0.76 and N182.93. Other top decliners were
Conoil Plc, Champion Breweries Plc and Livestock Feeds Plc.
On sector basis, the NSE oil/gas and NSE
insurance indices advanced by 0.28 per cent and 0.21 per cent,
respectively. The NSE banking, NSE food/beverage and NSE industrial
indices respectively declined by 1.62 per cent, 1.35 per cent and 0.22
Meanwhile, owing to the Open Market
Operation sales worth N26.93bn, there was reduced system liquidity as
the open buy-back and overnight rates advanced by 12.42 per cent and
14.75 per cent, respectively.
Thus, the average money market rate at the close of Monday’s trades, advanced by 13.59 per cent to settle at 25.88 per cent.
Bullish sentiments pervaded the treasury
bills space as the average T-bills yield dipped by 0.15 per cent to
close at 20.35 per cent. There were yield advancements on the
three-month (+0.16%) and nine-month (+0.05%) tenors by 0.16 per cent and
0.05 per cent, respectively.
However, the one-month, six-month and 12-month tenors declined by 0.69 per cent, 0.21 per cent and 0.07 per cent, accordingly.
Source: THE PUNCH.