Domestic equity market sheds N154bn

Omeiza Bilal

The domestic equity market Monday opened bearish, declining by N154 billion as profit taking activities persisted in the market.

Market capitalisation of listed equities depreciated by 0.28 per cent to N55.357 trillion from N5.511 trillion it closed on Friday.

The NGX All Share Index also declined by 272.97 basis points to 97879.94 points from 98152.91 points traded the previous day. The market negative performance was primarily driven by profit taking activities in stocks of Nigerian Breweries, Presco, Dangote Sugar, Zenith , Cap and among others.

As result year to date return declined to 31.01 per cent despite the  NGX printed 25 gainers against 19 losers.

An analysis of the Investment showed that Sterling Bank led gainers table,gaining 9.95 per cent to close at N4.20 per unit, FBNHoldings followed with a gain of 9.83 per cent to close at N22.35 per unit, Honey Well Flour gained 9.40 per cent to close at N3.49 per unit, Tantalizer added 9.09 per cent to close at N0.36 per share, Caverton increased by 8.90 per cent to close at N1.56 per unit.

On the contrary, Dangote Sugar and NSLTECH topped losers chart, dropping by  10 per cent each to close at N43.20 and N0.54 per share. Cap Plc trailed with a loss of 9.88 per cent to close at N26.00, Berger paint down by 9.87 per cent to close at N13.70 per share, Presco Plc fell by 9.72 per cent to close at N20.90 per unit.

Volume of activities increased by 12.175 million, representing 4.59 per cent as investors traded 277.241 million shares valued at N5.083 billion in 8714 deals against 265.066 million shares worth N5.022 billion exchanged hands the previous day in 6582 deals

Transactions in the shares of United Bank for Africa led market activities with 34.563 million shares valued at N799.449 million , TIP followed with account of 25.580 million shares worth N46.158 million Transcorps traded 19.396 million shares worth N269.103 million, AccessCorp traded 18.787 million shares cost N318.630 million while Zenith Bank exchanged 18.716 million shares cost N589.630 million.

The domestic equity market Monday opened bearish, declining by N154 billion as profit taking activities persisted in the market.

Market capitalisation of listed equities depreciated by 0.28 per cent to N55.357 trillion from N5.511 trillion it closed on Friday.

The NGX All Share Index also declined by 272.97 basis points to 97879.94 points from 98152.91 points traded the previous day. The market negative performance was primarily driven by profit taking activities in stocks of Nigerian Breweries, Presco, Dangote Sugar, Zenith , Cap and among others.

As result year to date return declined to 31.01 per cent despite the  NGX printed 25 gainers against 19 losers.

An analysis of the Investment showed that Sterling Bank led gainers table,gaining 9.95 per cent to close at N4.20 per unit, FBNHoldings followed with a gain of 9.83 per cent to close at N22.35 per unit, Honey Well Flour gained 9.40 per cent to close at N3.49 per unit, Tantalizer added 9.09 per cent to close at N0.36 per share, Caverton increased by 8.90 per cent to close at N1.56 per unit.

On the contrary, Dangote Sugar and NSLTECH topped losers chart, dropping by  10 per cent each to close at N43.20 and N0.54 per share. Cap Plc trailed with a loss of 9.88 per cent to close at N26.00, Berger paint down by 9.87 per cent to close at N13.70 per share, Presco Plc fell by 9.72 per cent to close at N20.90 per unit.

Volume of activities increased by 12.175 million, representing 4.59 per cent as investors traded 277.241 million shares valued at N5.083 billion in 8714 deals against 265.066 million shares worth N5.022 billion exchanged hands the previous day in 6582 deals

Transactions in the shares of United Bank for Africa led market activities with 34.563 million shares valued at N799.449 million , TIP followed with account of 25.580 million shares worth N46.158 million Transcorps traded 19.396 million shares worth N269.103 million, AccessCorp traded 18.787 million shares cost N318.630 million while Zenith Bank exchanged 18.716 million shares cost N589.630 million.