Equity market opens week in downward trend, shedding N16bn

Transactions on the floor of Nigerian Stock Exchange ( NSE) yesterday opened week in a negative trend, declining by N16 billion.

Specifically, Market Capitalisation of listed equities declined by 0.14 per cent to N11.833 trillion from N11.

849 trillion reported the previous day.

Also the NSE All Share index depreciated by 43.50 basis points to 32413.48 points from 32456.98 points traded on Friday.

Investors traded 91.405 million shares worth N960.906 million in 2529 deals against 162.410 million shares valued at N2.238 billion 2922 deals.

A review of the investment during the day showed that Forte Oil led gainers table, growing by N2.00 to close at N22.25 kobo, Nascon followed with a gain of N1.40 kobo to close at N19.90 kobo, Guaranty Trust Bank gained N0.40 kobo to close at N36.90 kobo, Flour Mills Nigeria Plc appreciated by N0.40 kobo to close at N21.21 kobo, Dangote Sugar Refinery added N0.30 kobo to close at N15.00.

Conversely, Unilever Nigeria Plc recorded the highest loss during the day, dropping by N2.30 kobo to close at N41.20 kobo, Nigeria Breweries trailed with a loss of N2.00 to close at N86.00, Lafarge Wapco fell by N1.50 kobo to close at N21.50 kobo, Fidson Health care down by N0.60 kobo to close at N5.40 kobo while Guinness Nigeria Plc dropped by N0.50 kobo to close at N78.50 kobo.

Further analysis showed that United Bank for Africa was the most active stock during the day, exchanging 14.613 million shares worth N118.384 million, FCMB group followed with account of 11.869 million shares valued at N19.385 million, Fidelity Bank traded 6.907 million shares cost N13.106 million, Guaranty Trust Bank sold 5.922 million shares worth N216.930 million while Honey Well Flour Mills Nigeria Plc accounted for 4.373 million shares valued at N5.582 million.

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