Market value opens week on depressive note

Equities trading on the Nigerian Stock Exchange (NSE0 opened for the week Monday on depressive note as key performance measuring indices declined.

Market capitalization which opened the week at N8.67 trillion, closed yesterday lower at N8.51 trillion, depreciating by N150.85 billion. The NSE All Share-Index which opened the week at 25,012.80, closed Monday at 24,581.99, having declined by 431.81 points.

The NSE price movement table showed that 15 companies’ equities recorded gain, while 19 others posted decline. Nestle led the top gainers table with 9.96 per cent or N62.58 growth on its equity price, closing at N 691.00 per share, Forte Oil followed with N2.63 or 5.7 per cent appreciation to close trade on Monday at N54.50 per share, while AIICO emerged the third highest gainer with N0.03 or 5 per cent growth on its equity price, to close at N0.633 per share.

Continental Reinsurance appreciated by 4.95 per cent or N0.05 , to close at N1.06 per share, while Vitafoam closed the top five gainers table with growth by 4.95 per cent or N0.09 in its equity price to close trade at N1.98 per share.

7UP bottling company led the price 19 decliners with 9.47 or N9.00 loss on its equity price, as it close d trade at N86.00 per share, followed by Dangote Cement which shed N11.29 or 7.03 per cent, to close trade at N149.26 per share, while Honeywell Flour was the third highest loser with N0.05 or 5 per cent decline on its stock price, as it closed at N0.95 per share.

CAP lost 5 per cent or N1.48 to close at N28.12 per share, while Diamond bank closed the top five gainers table with 4.88 per cent or N0.08 to close trade at N0.78 per share.