Stanley Opara

The Nigerian equities market recorded 31 laggards at the close of trading on the floor of the Nigerian Stock Exchange on Monday, as the NSE All-Share Index declined by 0.9 per cent.

It started the week in the red, as the year-to-date return fell to 35.14 per cent. A total of 11 gainers emerged, as the market turnover and volume of transactions declined by 8.36 per cent and 17.60 per cent, respectively.

The market recorded trading on 348.122 million shares valued at N2.977bn in 3,276 deals.

Total Nigeria Plc topped the gainers’ chart, rising by 9.09 per cent to close at N236.50. This was followed by Airline Services and Logistics Plc, Cutix Plc, Vitafoam Nigeria Plc and Continental Reinsurance Plc, which appreciated by 4.99 per cent,4.98 per cent,  4.49 per cent and 3.88 per cent, respectively.

However, Trans-national Express Plc and Mobil Oil Nigeria Plc recorded the highest loss, declining by five per cent apiece, to close at N0.76 and N182.93. Other top decliners were Conoil Plc, Champion Breweries Plc and Livestock Feeds Plc.

On sector basis, the NSE oil/gas and NSE insurance indices advanced by 0.28 per cent and 0.21 per cent, respectively. The NSE banking, NSE food/beverage and NSE industrial indices respectively declined by 1.62 per cent, 1.35 per cent and 0.22 per cent.

Meanwhile, owing to the Open Market Operation sales worth N26.93bn, there was reduced system liquidity as the open buy-back and overnight rates advanced by 12.42 per cent and 14.75 per cent, respectively.

Thus, the average money market rate at the close of Monday’s trades, advanced by 13.59 per cent to settle at 25.88 per cent.

Bullish sentiments pervaded the treasury bills space as the average T-bills yield dipped by 0.15 per cent to close at 20.35 per cent. There were yield advancements on the three-month (+0.16%) and nine-month (+0.05%) tenors by 0.16 per cent and 0.05 per cent, respectively.

However, the one-month, six-month and 12-month tenors declined by 0.69 per cent, 0.21 per cent and 0.07 per cent, accordingly.

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