Nigerian bourse market opens week trading down-turn

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Market capitalization on the floor of the Nigerian Stoc k Exchange (NSE) opened Monday on a down-turn note, with 12.539 trillion naira f r om 12.592 trillion naira recorded in last Friday transactions.

Similarly, the All-Share Index followed by sliding from 66,121.93 at the close o f Friday’s transactions to 65,842.59 points.

Investors staked 13.7 billion naira on 894.9 million shares in 18,654 deals.

Oando Plc led the gainers’ table with N13.46, to close at N282.77, Cappa D’Alberto Plc followed with N6.01, to close at N126.40 and Skye Shelter Plc closed at N150.00, to gain N5.00.

Three oil marketing stocks led the losers’ table.

Chevron Nigeria Plc lost N14.50 to close at N372.00, Total Nig. Plc also lost N1 0.00 to close at N230.00 and Conoil Plc followed by closing at N145.32, losing N 7.64.

Like last week, the insurance sub-sector led the activity chart in turn-over volume, with 360.9 million shares worth 1.84 billion naira in 4,787 deals.

The shares of Universal Insurance Plc, Staco Insurance Plc and Mutual Benefits Assurance Plc boosted activities in the sub-sector.

The banking sub-sector followed on the activity chart with a turn-over of 216.09 million shares valued at 6.117 billion naira recorded in 5,911 deals.

The shares of Intercontinental Bank Plc, First Inland Bank Plc and First Bank of Nigeria Plc in turn-over volume boosted activities in the sub-sector.

Conglomerates sub-sector came third on the activity chart with a turnover of 59. 3 million shares worth 327.8 million naira in 544 deals.

Transnational Corporation Plc (Transcorp) led with 52.3 million shares, followed by John Holt Plc with 2.151 million shares and AG.Leventis Plc 2.116

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