Domestic equities sheds N317bn
The domestic equity market on Monday opened the new week declining by N317 billion as bears dominated the market activities during the day.
Market capitalization of listed equities depreciated by 0.54 per cent to N58.721 trillion from N59.038 trillion reported on Friday.
The NGX All Share Index also decreased by 524.04 basis points to 96907.98 points from 97432.02 points traded the previous day.
The low performance of the market was driven by depreciation in the heavyweight shares and other small and medium stocks.
The trading result showed that losses on the shares of MTN Nigeria, Oando GTCO Plc, FBNHoldimgs Aradel Plc FTNCocoa wipe out gain recorded in the shares of UBA, JohnHolt, Eunisell, Sterling Bank PZ among others.
As result year to date return dropped further to 29.60 per cent as 30 companies closed trading for the day in red while only 17 firms reported positive growth.
A review of the trading during the day showed that JohnHolt and United Bank for Africa (UBA) led gainers table with 10 per cent each, to close at N3.63 Kobo and N31.90 Kobo respectively. Eunisell followed with a gain of 9.96 per cent to close at N6.18 per unit, Sterling Bank added 5.96 per cent to close at N4.98 per share, PZ Cusson added 4.55 per cent to close at N23.00 per unit.
On the contrary, Caverton Business Solutions topped losers chart , dropping by 10 per cent to close at N1.80 per unit, Aradel Plc trailed with a loss of 9.99 per cent to close at N401.10 per unit, Oando Plc dipped by 9.98 per cent to close at N80.70 per unit, FTNCocoa down by 9.90 per cent to close at N1.73 per unit, Veritas Kapital dipped by 9.86 per cent to close at N1.28 per share.
Volume of transactions increased by 334.202 million representing 37.60 per cent as investors traded 1.223 billion shares valued at N14.233 billion in 10386 deals against 888.796 million shares cost N15.841 billion in 8803 deals.
Transactions in the shares Conhall Plc led market activities with 567.248 million shares valued at N822.513 million , United Bank for Africa followed with account of 240.756 million shares worth N7.287 billion, Sterling Bank traded 122.305 million shares cost N603.022 million , Sovereign Trust Insurance traded 59.932 million shares cost N33.878 million Access Holdings Plc exchanged 26.141 million shares cost N579.457 million.
