BY PROVIDENCE OBUH

Activities on the Nigerian Stock Exchange, NSE, resumed Monday on a bearish note, as equities’ value, represented by the market capitalisation, appreciated by N42.51 billion.

Specifically, the capitalisation, occasioned by profit taking activities of investors, depreciated by 0.51 per cent to close at N8.258 trillion from N8.301 trillion at which it opened. Another key performance indices — the All share index, dipped by 0.51 or 132.97 bases points to close at 25,830.53 points from 25,963.50 points at which it opened.

Thirty three stocks depreciated in price higher than the 11 on the gainers list, led by Starcomms Nigerian Plc with a loss of 4.76 per cent or N0.03 to close to N0.60 per share, Sterling Bank Plc followed with a loss of N0.09 to close at N1.81 per share and Bank PHB Plc declined by N0.05 to close at N1.01 per share.

On the contrary, Custodian and Allied Insurance Plc led on the gainers with a 4.98 per cent appreciation or a gain of N1.40 to close at N29.49 per share, International Breweries Plc followed with N0.32 to close at N6.77 per share and Air Services and Logistics Plc rose by N0.10 to close at N2.20 per share.

The Banking sub-sector was the most active on the sectoral analysis, accounting for 62.07 per cent of the market turnover with 108.26 million shares valued at N1.09 billion in 2,282 deals. Zenith Bank Plc enjoyed the highest patronage in the sub-sector, trading 35.35 million shares valued at N530.42 million in 261 deals, Access Bank Plc followed with the exchange of 18.11 million shares valued at N135.46 million in 293 deals and First City Monument Bank Plc recorded 9.99 million shares valued at N73.46 million in 46 deals.