NSE Index drops 0.20%, as Nestle, Guinness, UBA, Stanbic IBTC Holding shed weight

L-R: Head, Corporate Services Division, The Nigerian Stock Exchange (NSE), Mr. Bola Adeeko; Chief Executive Officer, NSE, Mr. Oscar Onyema; The United States (U.S) Consul General, Mr. Jeffrey Hawkins and Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo during the Bell Ringing Ceremony at the Exchange on 21/10/1013.

WorldStage Newsonline—Nigeria’s equities market opened the week on a negative note, as the NSE ASI recorded a depreciation of 0.20% to close at 37,267.96 points, compared with the appreciation of 0.23% recorded last Friday. The year-to-date (YTD) return of the NSE ASI currently stands at 32.73%.

Similarly, the Market Capitalization also dropped by 0.20% to close at N11.87trn, compared with the gain of 0.23% recorded last Friday to close at N11.90trn

The decline in the Index could be attributed to losses recorded in the share prices of some highly capitalised stocks such as: Nestle, Guinness, UBA, Stanbic IBTC Holding and Zenith Bank, amongst others.

The total value traded on the floors of the NSE was N3.91bn, down 18.93% from N4.81bn recorded last Friday. The total volume traded was 295.69mn in 5,291 deals.

The three most actively traded stocks were: Zenith Bank (60.52mn), Transcorp (36.99mn) and GT Bank (29.95mn) while the most actively traded sectors were Financial Services (216.24mn), Conglomerates (37.87mn) and  Oil and Gas (13.78mn).