Stock market loses N109bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) after two days holidays to celebrate Eid el Kabir  opened in a negative trend, shedding N109 billion.

Specifically Market capitalisation of listed equities declined by 0.82 per cent to N13.198 trillion from N13.307 trillion reported on Friday. The NSE All Share Index also dipped by 223.70 basis points to 27083.11 points from 27306.81 traded previously.

Investors during the day exchanged 235.117 million shares worth N3.291 billion in 3922 deals against 220.800 million shares valued at N4.477 billion in 2702 deals.

An analysis of the transactions during the day showed that Custodian and Investment Plc led gainers table during the day appreciating by N0.20 kobo to close at N6.20 kobo, Continental Reinsurance followed with a gain of N0.06 kobo to close at N1.45 kobo, Union Bank of Nigeria gained N0.05 kobo to close at N6.80 kobo, Africa Prudential Registrar Plc added N0.05 kobo to close at N3.60 kobo while Presco Plc stabilises at N44.80 kobo.

On the contrary, Total Nigeria Plc recorded the highest loss during the day, depreciating by N9.00 to close at N105.80 kobo, MTN Nigeria Plc trailed with a loss of N1.75 kobo to close at N129.25 kobo, Flour Mills Nigeria Plc down by N1.30 kobo to close at N14.00, Cement Company of Northern Nigeria down by N0.75 kobo to close at N13.25 kobo while Guaranty Trust Bank fell by N0.55 kobo to close at N25.95 kobo.

The result further showed that Guaranty Trust Bank was the most active stock during the day, exchanging 49.861 million shares worth N1.295 billion, Zenith Bank Plc followed with account of 34.718 million shares valued at N563.661 million, Access Bank Plc traded 33.213 million shares cost N199.392 million, FBNHoldings traded 20.420 million shares cost N97.481 million, Fidelity Bank Plc sold a total of 10.658 million shares cost N15.808 million.

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