Major Oil Stocks Plummet On NSE
Major oil stocks posted price depreciation on the Nigerian Stock Exchange (NSE) on Monday just as the market indices recorded marginal growth of 0.02 per cent.
Seplat dipped N13.70 to close at N571.40 to lead the losers' table.
Total trailed with a loss of N11 to close at N217, while Mobil Oil shed N9.50 to close at N180.50 per share.
Dangote Cement was down by N1 to close at N259, while United Bank for Africa declined by 45k to close at N12.50 per share.
Conversely, International Breweries topped the gainers' table, growing by N2.85 to close at N59.85 per share.
PZ Industries followed with a gain of N1.15 to close at N24.15, while NASCON appreciated by N1.05 to close at N21.60
Guaranty Trust Bank advanced by 75k to close at N49.35, while Redstar increased by 30k to close at N6.30 per share.
Consequently, the All-Share Index rose marginally by 8.59 points or 0.02 per cent to close at 42,579.48 compared with 42,570.89 achieved on Friday.
Similarly, the market capitalisation which opened at N15.277 trillion rose by three billion naira or 0.02 per cent to close at N15.280 trillion.
Cement Company of Northern Nigeria was the most active stock, trading 134.89 million shares worth N2.25 billion.
Transcorp followed with an account of 34.15 million shares valued at N71.04 million, while FBN Holdings traded 21.78 million shares worth N250.07 million.
Access Bank sold 20.58 million shares valued at N 270.03 million, while Fidelity Bank exchanged 20.49 million shares worth N 61.30 million.
In all, the volume of shares transacted closed higher as investors bought and sold 384.26 million shares valued at N5.47 billion achieved in 4,774 deals.
This was in contrast with a turnover of 308.43 million shares worth N6.40 billion exchanged in 4,356 deals.
Written by NEWSTRAWL ONLINE UPDATE
Sodiq Oyeleke is a Media, Human Resources, Project Management and Public Relations Practitioner
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