Equity market closes south ward, sheds N61 bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) yesterday opened week in a negative trend, shedding N61 billion.

Specifically, Market capitalisation of listed equities declined by 0.45 per cent to N13.623 trillion from N13.684 trillion reported on Friday.

The NSE All Share Index also depreciated by 138.98  basis points to 30930.39 points from 31069.31 pointed traded previously.

Investors traded 246.091 million shares worth N2.817 billion in 3850 deals against 212.940 million shares valued at N2.730 billion exchanged hands the previous day in 3737 deals.

A breakdown of the transactions during the day showed that Nestle Nigeria Plc led gainers table, appreciating by N10.00 to close at N1460.00, Flour Mills Nigeria Plc followed with a gain of N0.40 kobo to close at N14.00, Dangote Cement Industry gained N0.30 kobo to close at N199.80 kobo, UPL appreciated by N0.17 kobo to close at N1.97 kobo while Union Bank of Nigeria added N0.15 kobo to close at N7.00.

On the contrary, Seplat Petroleum Development Plc recorded the highest loss for the day, dropping by N49.90 kobo to close at N500.00, Julius Berger trailed with a loss of N2.15 kobo to close at N19.70 kobo, Nascon down by N1.50 kobo to close at N14. 75 kobo, Ecobank Incorporated fell by N1.10 kobo to close at N10.05 kobo while Glaxosmith Kline depreciated by N0.85 kobo to N7.65 kobo

Further break down of the investment showed that FCMB group was the toast of investors during the day, exchanging 70.558 million shares valued at N112.981 million, Guaranty Trust Bank Plc, followed with account of 33.986 million shares cost N1.069 billion, Onado Plc traded 27.145 million shares cost N103.268 million, UACN sold a total of 24.334 million shares worth N157.156 million while Zenith Bank Plc exchanged 8.843 million shares cost N178.536 million.

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