Bearish equity market sheds N130bn

Domestic equity market Monday opened the week bearish, declining by N130 billion.

The market was weighed down following the depreciation in the shares of BuaCement, JapaulGold, Livestock Chams among others.

This resulting in market capitalisation of listed equities depreciating by 0.33 per cent to N38.795 trillion from N38.925 trillion reported the previous day.

The NGX All Share Index also went down by 236.57 basis points to 70612.81 points from 70849.38 points it closed on Friday.

An analysis of the investment showed that RTBriscoe and Alex led gainers table in percentage terms, gaining 10 per cent each to close at N0.66 per unit and N7.15 per share respectively.
Mecure followed with 9.95 per cent to close at N4.31 per unit, Mcnichols gained 9.84 per cent to close at N0.67 per share, Deep Capital added 9.68 per cent to close at N0.34 per unit.

On the contrary, Japaul Gold topped losers chart with 9.09 per cent to close at N1.80 per share, BuaCement trailed with a loss of 7.76 per cent to close at N78.70 per unit, Veritas Kapital fell by 7.41 per cent to close at N0.25 per unit, Universal insurance dipped by 4.00 per cent to close at N0.24 per unit while Chams dropped by 3.85 per cent to close at N2.00 per unit.

Volume of trades also went down by 82.316 million, representing 14.79 per cent as investors traded 474.380 million shares valued at N7.751 billion in 7630 deals against 556.702 million shares cost N5.562 billion in 6308 deals.

Transactions in the shares of Fidelity Bank led market activities in volume terms, exchanging 94.048 million shares valued at N858.546 million, Japaul Gold followed with account of 65.977 million shares cost N120.976 million, United Bank for Africa exchanged 54.923 million shares cost N1.141 billion, Transnational Corporation of Nigeria exchanged 25.981 million shares valued at N161.122 million, Jaiz Bank traded 21.710 million shares cost N34.941 million.