Nigerian bourse ends week bearish as market cap sheds N74.9bn

Oct 26, 2019

The Nigerian Stock Exchange (NSE) ended this week’s trading with market capitalisation shedding N74.9 billion. The bourse All Share Index decreased by 0.38% on a week to date basis to close at 26,348.73 basis points.

A total of 2 billion shares worth N16.1 billion exchanged hands in 13,508 deals during this week’s trading sessions on the floor of the NSE.

18 equities appreciated in value during the week, lower than 19 in the previous week. 33 equities depreciated in value, higher than 23 equities in the previous week. While 115 equities remained unchanged, lower than 124 equities from las week.

Top 10 gainers

Cornerstone Insurance led the top 10 gainers for this week with a 18.75% gain to close at N0.38. The stock opened at N0.32.

Consolidated Hallmark Insurance opened this week at N0.33, gaining 12.12% to close at N0.37. Trans-national Express followed with a 9.09% gain. The stock opened at N0.77 and closed at N0.84.

Sterling Bank gained 7.78%, opening at N1.80 and closed at N1.94. A.G. Leventis opened at N0.26 and closed at N0.28, gaining 7.69%.

UAC Properties gained 7%. The stock opened at N1 and closed at N1.07. Cutix gained 6.87%. The stock opened at N1.31 and closed at N1.40.

Courtville Business Solutions opened at N0.20 and closed at N0.21, gaining 5%. Union Diagnostic and Clinical Services gained 4.55%, opening at N0.22 and closed at N0.23.

Continental Reinsurance rounds up the top 10 weekly gainers with a 3.46% gain to close at N2.39. The stock opened at N2.31.

Top 10 losers

On the flipside, Guinness Nigeria was the biggest loser in this week’s trading sessions. The stock opened at N29.35 and closed at N23.85, losing 18.74%. This largely due to its unimpressive results released yesterday.

Nem Insurance opened at N2.30 and closed at N2, losing 13.04%. Custodian Investment opened at N6.20 and closed at N5.45, losing 12.10%.

Jaiz Bank lost 10% to close at N0.45. The stock opened the week at N0.50. C & I Leasing lost 9.59%. The stock opened at N7.30 and closed at N6.60.

Eterna opened at N3.15 and closed at N2.85, losing 9.52%. GlaxoSmithKline Consumer Nigeria lost 9.38%. The stock opened at N6.40 and closed at N5.80.

Ikeja Hotel opened at N1.18 and closed at N1.07, losing 9.32%. Wapic Insurance closed at N0.32, losing 8.57%. The stock opened at N0.35.

Lasaco Assurance rounds up the top 10 losers this week with a 7.14% loss to close at N0.26. The stock opened at N0.28.

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