Stock market opens on negative trend, loses N17bn

The nation’s equity market yesterday continued in a downward trend, declining by N17 billion.

Specifically, Market Capitalisation of listed equities declined by 0.08 per cent to N21.008 trillion from N21.025 trillion reported on Friday.

The NSE All Share Index also depreciated by 32.61 basis points to 40154.09 points from 40186.70 points reported on Friday.

Investors traded 289.338 million shares valued at N3.573 billion in 4953 deals against 307.785 million shares cost N2.905 billion exchanged hands the previous day in 4393 deals.

A review of the transactions showed that UPDC REITs led gainers table during the day in percentage terms, appreciating by 9.35 per cent (N0.50 kobo) to close at N5.85 kobo, CHI PLC followed with a gain of 9.09 per cent (N0.03 kobo) to close at N0.36 kobo, Academy Press gained 8.57 per cent (0.03 kobo) to close at N0.38 kobo, Cornerstone Insurance increased by 7.81 per cent (0.05 kobo) to close at N0.69 kobo, UPL added 7.50 per cent (N0.09 kobo) to close at N1.29 kobo.

On the contrary, Africa Prudential topped losers chart for the day, declining by 9.59 per cent (N0.16 kobo) to close at N6.60 kobo, Lasaco trailed with a loss of 9.52 per cent (N0.16 kobo) to close at N1.52 kobo, Niger Insurance fell by 8.70 per cent (N0.06 kobo to close at N0.21 kobo, Wapco dipped by 8.00 per cent (N2.00) to close at N23.00, Restarex declined 7.42 per cent (N0.25 kobo) to close at N3.12 kobo

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