Equity market opens bearish, sheds N16bn

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Trading activities on the floor of Nigerian Exchange resumed the new week on a negative note, shedding N16 billion as profit taking activities persisted in the market.

Market capitalisation of listed equities close lower, declining by 0.05 per cent to N29.899 trillion from N29.915 trillion reported the previous day.

Similarly, the NGX All Share Index also depreciated by 29.35 basis points to 54886.04 points from 54915.39 points recorded the previous day.

The year to date returns appreciated by 7.10 per cent at the end of the transactions

An analysis of the Investment showed that

Access Corp led gainers table during the day, appreciating by 7.14 per cent to close at N9.00, Cutix Plc followed with a gain of 5.69 per cent to close at N2.23 per unit, UPL gained 5.53 per cent to close at N2.10 per share, Custodian and investment gained 5.17 per cent to close at N6.10 per share. Chams Plc added 4.17 per cent to close at N0.25 per unit.

On the contrary, Wapic Insurance and Ikeja Hotel topped losers chart during the day, dropping by 9.52 per cent each to close at N0.38 and N1.14 per share respectively.

Stanbic IBTC trailed with a drop of 8.52 per cent to close at N36.50 per unit, Multiverse fell by 5.80 per cent to close at N3.25 per share, Livestock Feeds declined by 5.50 per cent to close at N1.03 per share.

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