Equity market opens on negative note, sheds N28bn




Investment in the nation’s market Monday closed south wards as market capitalisation of listed equities declined by N28 billion.

Specifically, the value of equities depreciated by 0.21 per cent to N13.178 trillion from N13.206 trillion reported on Friday.

The Nigerian Stock Exchange All Share Index also depreciated to 27089.84 points from 27146.57 traded the previous day.

Investors traded 290.490  million shares worth N4.294 billion in 2900 deals against 311.260 million shares valued at N6.435 billion in 3192 deals.

A review of the transactions showed that Seplat Petroleum Development Plc led gainers table during the day, gaining N28.30 kobo to close at N426.00, UAC of Nigeria followed with a gain of N0.55 kobo to N6.60 kobo, Guaranty Trust Bank gained N0.35 kobo to close at N26.50 kobo, PZ Cusson added N0.30 kobo to close at N5.90 kobo, FBNHoldings gained N0.30 kobo to close at N4.65 kobo.

On the contrary, Nestle Nigeria Plc recorded the highest loss during the day, shedding N69.00 to close at N1136.00, Stanbic IBTC followed with a loss of N1.00 to close at N36.00, Dangote Sugar Refinery Nigeria Plc  fell by N0.25 kobo to close at N8.50 kobo, Oando Plc down by N0.19 kobo to close at N3.91 kobo, Cutux Plc sheds N0.10 kobo to close at N1.40 kobo.

The result further showed that Guaranty Trust Bank was the most active stock during the day, exchanging 128.491 million shares worth N3.379 billion, FBNHoldings followed with account of 41.844 million shares cost N183.530 million, Transnational Corporation of Nigeria Plc traded 32.850 million shares valued at N320.895 million, Access Bank Plc sold a total of 23.882 million shares cost N162.669 million while UACN exchanged 10.612 million shares worth N69.740 million.

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