Stock market opens on negative note, sheds N81bn

Trading activities on the floor of Nigerian Exchange on Monday opened negative, shedding N81 billion.

Market capitalisation of listed equities decreased by 0.28 per cent to N28.542 trillion from N28.623 trillion reported on Friday.

On the contrary, the NGX All Share Index also depreciated by 154.46 basis points to 52944.09 points from 53098.46 points traded previously.

Investors traded 374.183 million shares valued at N4.963 billion in 6854 deals against 303.484 million shares cost N3.574 billion in 7019 deals. An analysis of the investment showed that Mcnichols led gainers table during the day, gaining 9.70 per cent to N1.47, Northern Nigeria Floor Mills followed with a gain of 9.55 per cent to N10.90, Transnational Corporation of Nigeria added 8.53 per cent to N1.40, Wapic Insurance gained 7.14 per cent to N0.45, Chi Plc up by 7.02 per cent to N0.61.

On the contrary, Champion Breweries recorded the highest loss at the close transaction on Monday, shedding 9.84 per cent to N3.94, Glaxosmith trailed with a drop of 9.49 per cent to N7.15, International Breweries fell by 9.09 per cent to N8.00, Neimeth international Pharmaceutical down by 8.33 per cent to N1.76, Wapco dipped by 8.28 per cent to N28.80.

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