Equities market resume October downbeat

The first trading day on the Nigerian Stock Exchange (NSE) in the month of October closed on a negative note, as the lead indicator the All- Share Index fell by 0.38 per cent.

The ASI decreased by 133.89 points to close at 35,306.09 points, reducing the year-to-date return to 31.49 per cent, while the market capitalisation declined N45.7 billion to settle at N12.171 trillion.

The day ended with 22 losers and 18 gainers.

Unity Bank recorded the highest loss of 5 percent to close the day at 57 kobo per share.

PZ trailed with a decline of 4.98 per cent to close at N24.23 and United Capital decreased 4.95 per cent to close at N2.88 per share.

Cadbury depreciated 4.82 per cent to close at N10.46 per share, while Sterling Bank dropped 4.76 per cent to close at N1 per share.

On the other hand, CI leasing emerged the day’s highest gainer, adding 9.82 per cent to close at N1.79 per share.

It was followed by Learn Africa Plc, which rose by 6.76 per cent to close at 79 kobo per share, and Caverton grew by 4.81 per cent to close at N1.09 per share.

NEM appreciated 4.31 percent to settle at N1.21 per share, while Union Bank advanced by 3.99 per cent to close at N5.99 per share.

Investors in 3,850 deals staked N5.8bn on 634.3 million shares compared to N3.8bn staked on 235.8 million shares on Friday, the last trading day in the month of September.

Investors’ interest remained centred around banking stocks in position ahead of the release of Q3 earnings. Thus pushed the banking index to record the day’s highest sectoral growth of 0.63 per cent.

FCMB emerged the most traded stock with the exchange of 370.4 million shares valued at N378m.

FBN Holding was next with the trade 34 million shares worth N193.6bn, while Guaranty exchanged 33.5 million shares valued at N1.340m.

Zenith Bank transacted 26.9 million shares at N641.1m, and United Capital exchanged 25.2 million shares worth N73.3m.

Afolabi Adesola