News & Insights

Transactions reverse negative posture at stock market

Transactions reverse negative posture at stock market

Oct 29, 2019 - Legal News by

The Nigerian Stock Exchange (NSE) opened trading for the week on Monday northward after closing the previous week on bearish posture.

The News Agency of Nigeria (NAN) reports that the nation’s bourse swayed northward to reverse previous loss with the crucial market indicators improving by 0.14 per cent.

Specifically, the All-Share Index which opened at 26,348.73 inched 35.72 points or 0.14 per cent to close at 26,384.45.

Similarly, the market capitalisation rose by N17 billion to close higher at N12.843 trillion against N12.826 trillion achieved on Friday. Cement Company of Northern led the gainers’ table, improving by 90k to close at N15.90 per share. Flour Mills followed with a gain of 45k to close at N15.50, while Lafarge Africa gained 25k to close at N14.95 per share.

Sterling Bank added 6k to close at N2, while Triple G grew by 5k to close at 64k per share. Conversely, UACN recorded the highest loss to lead the losers’ table, declining by 50k to close at N6 per share. Guaranty Trust Bank trailed with a loss of 10k to close at N26.20, while Mansard Insurance was down by 5k to close at N1.65 per share. Forte Oil also dipped 5k to close at N16, UPL lost 5k to close at N1.10 per share.

An analysis of the activity chart indicates that Veritas Capital was the most active stock, exchanging 346.69 million shares valued at N69.34 million. Zenith Bank followed with an account of 22.01 million shares worth N374.06 million, while Courtville traded 21.52 million shares valued at N4.88 million. Access Bank sold 21.23 million shares worth N155.03 million,

while Transcorp accounted for 11.13 million shares valued at N11.32 million. In all, the volume of shares traded rose by 30.95 per cent as investors bought and sold 485.89 million shares valued at N1.08 billion in 3,861 deals. This was in contrast with a turnover of 371.04 million shares worth N2.52 billion exchanged in 2, 736 deals on Friday. (NAN)

source link: https://www.dailytrust.com.ng/transactions-reverse-negative-posture-at-stock-market.html