Equity market loses N36bn

Investment in the nation’s equity market yesterday opened week in downward trend following loses recorded by capitalised stocks, depreciating by N36 billion.

Specifically, market capitalisation of listed equities declined by 0.31 per cent to N11.576 trillion from N11.612 trillion recorded the previous day. 

Also, the Nigerian Stock Exchange All Share Index went down by 97.03 basis points to 31042.32 points from 31139.35 points traded on Friday.

Investors traded a total of 168.721 million shares worth N3.751 billion in 3048 deals against 168.721 million shares valued at N3.751 billion exchanged hands the previous day in 3253 deals.

An analysis of the transactions showed that Sanbic IBTC led gainers table, appreciating by N3.00 to close at N48.50 kobo, Redstarex followed with a gain of N0.50 kobo to close at N5.50 kobo, Union Bank of Nigeria added N0.20 kobo to close at N7.05 kobo, UPL increased by N0.15 kobo to close at N2.00 while Ecobank Transnational Incorporated Plc added N0.10 kobo to close at N13.50 kobo.

On the contrary, Mobil Oil Plc recorded the highest loss during the day, declining by N3.00 to close at N167.00, Nestle Nigeria Plc trailed with a loss of N2.00 to close at N1498.00, Dangote Cement fell by N1.20 kobo to close at N188.50 kobo, Nascon down by N1.00 to close at N19.00, Cement Company of Northern Nigeria sheds N0.90 kobo to close at N20.00.

The result further showed that Guaranty Trust Bank was the most active stock during the day, exchanging 46.974 million shares worth N1.762 billion, Zenith Bank Plc followed with account of 28.643 million shares valued at N627.643 million, Access Bank traded 18.508 million shares valued at N121.979 million, FBNHoldings sold 16.387 million shares worth N134.410 million while United Bank for Africa exchanged 8.111 million shares cost N62.848 million.

Leave a Reply