TRADING at the Nigerian Stock Exchange (NSE) yesterday as usual opened the week with a decline on major key indicators as investors off loaded to take cash.
Transactions in the shares of highly capitalized stocks offloaded by investors resulted in the decline recorded by the key indicators of the market.
Specifically, two out of the top six most capitalized stocks recorded a drop as such dragged the major indicators downwards.
Airtel Africa which is the most capitalized stock with N4.698 billion traded 515,996 shares across just 77 deals. The stock dropped 1.65 per cent, a difference of N21 to close at N1,250.00.
This was closely followed by Bua Foods, the 6th most capitalized stock with N1.096 billion traded 186,155 shares across 36 deals. The stock recorded a drop of 1.46 per cent, a loss of N0.90 to close at N60.90.
Japaul Gold led the list of 23 losers with a drop of 7.60 per cent and closely followed by Courtville with a drop of 6.27 per cent. Others were Custodian and Allied, NGX Groups, NPF Microfinance, Neimeth, Multiverse and Honeywell Flour.
On the other hand, the gainers table also recorded 23 stocks with Guinness, Learn Africa and NCR leading with 10 per cent increase respectively. MTN Nigeria which is the 3rd most capitalized with N4.040 billion traded 8.436 million shares across 260 deals to close N198.50 a growth of N0.25.
Also on the list were UPL, Academy Press, Phamadeko, NEM Insurance, RT Briscoe, Champion Breweries and Ikeja Hotel, among others.
Looking at the various performances in terms of volume and deals of transactions, investors traded 338.025 million shares across 5,619.
Market capitalization and All Share Index both depreciated by 0.29 per cent each a drop of N75 billion and 139.02 points to close at N25.361 trillion and 47,063.28 points respectively.
