Equity market closes low, sheds N83bn

Trading activities on the floor of Nigerian Exchange (NGX) Monday remained low, shedding N83 billion.

Specifically, market capitalisation of listed equities declined by 0.38 per cent to N21.920 trillion from N22.003 trillion reported last week Friday.

The NGX All Share Index also depreciated by 159.31 basis points to 42008.60 points from 42167.91 points traded on Friday.

Investors traded 422.180 million shares valued at N4.470 billion in 5059 deals against 180.953 million shares cost N2.425 billion in 4019 deals.

An analysis of the investment during the day showed that  Royal Exchange led gainers table during the day, gaining 9.43 percent to N0.58, UPDC followed with a gain of 9.09 per cent to N1.08, Chi Plc gained 9.09 per cent to N0.48, Meyer Paint also gained 9.09 per cent to 0.24, Champion Breweries gained 7.92 per cent to N2.59.

Lafarge Wapco on the contrary recorded the highest loss during the day, shedding 9.94 per cent to N22.40, Linkage Assurance trailed with a drop of 8.93 per cent to N0.51, ABC Transport Associated Company gained 8.82 per cent to N0.31, Vitafoam Nigeria Plc down by 8.68 per cent to N20.00 while Fidelity Bank fell by 5.60 per cent to N2.36.

The result showed that FBNHolding was the most active stock during the day, exchanging 128.865 millions shares valued at N150.554, Sterling Bank followed with account of 77.771 million shares cost N115.783 million, GTCO Plc traded 47.789 million shares valued at N1.146 billion, United Capitlal sold a total of 20.960 million shares valued at N20.272 million while United Bank for Africa exchanged 185.936 million shares valued at N140.000 million.