Stock market opens weak on negative trend, sheds N84bn

Equity market Monday opened transactions for the week on a negative note, shedding N84 billion.

Market capitalisation of listed equities declined by 0.33 per cent to N25.169 trillion from N25.253 trillion reported on Friday.

The NGX All Share Index also depreciated by 155.01 basis points to 46687.85 points from 46842.86 points.

Investors during the day traded 219.495 million shares valued at N1.930 billion in 5168 deals against 257.327 million shares valued at N2.863 billion exchanged hands the previous day in 4586 deals.

An analysis of the investment for the day showed that Redstarex led gainers table during the day, increasing by 10.00 per cent to N2.97, Nahco followed with again of 9.78 per cent to N4.71, Meyer Paint added 9.72 per cent to N0.79, Veritas Kapital increased by 9.52 to N0.23 UPDC gained 9.21 per cent to N0.83.

On the contrary, Regal Insurance topped losers chart, dropping by 9.68 per cent to N0.28, Japaul Gold followed with a drop z 8.82 per cent to N0.31, Wapic Insurance down by 6.82 per cent to N0.41, Linkage Assurance dipped by 6.00 per cent to N0.47, Jaiz Bank declined by 5.71 per cent to N0.66.

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