Equities market opens negative shed N35bn

The Local equities market on Monday opened the week on a negative note, declining by N35 billion as losses in the selected major stocks impacted negatively on the market performance.

Market capitalisation of listed equities declined by 0.02 per cent to N165.079 trillion from N165.114 trillion it closed on Friday. 

The NGX All Share Index also dropped by 54.28 basis points to 254245.21 points from 254299.49 points recorded previously.

The trading for the day showed that losses of Aradel Plc , GTCO Plc, Vitafoam Nestle Nigeria Plc, Zenith Bank weighed down on the market performance.

The market breath was negative with 21 advancers against 41 decliners bringing the year to date return to 63.40 per cent.

An analysis of the investment showed that Conhall Plc led gainers table with 10 per cent to close at N7.15 per share, Live Stock followed with a gain of 9.77 per cent to close at N14.60 per unit, Mansard Insurance added 9.30 per cent to close at N11.75 per unit, UPDC gained 7.46 per cent to close at N3.60 per unit, NPF Micro Finance Bank increased by 7.14 per cent to close at N4.50 per share.

On the contrary Champion Breweries and SUNU Assurance topped losers chart, dropping by 10 per cent each to close at N8.10 and N2.70 per share respectively.

Aradel Plc trailed with a loss of 9.99 per cent to close at N1296.00 per unit, Vitafoam Plc dipped by 9.97 per cent to close at N157.20 per share, Cornerstone Insurance declined by 9.89 per cent to close at N4.10 per share, International General Insurance depreciated 9.74 per cent to close at N1.76 per share.

Volumes declined by 480.31 million, representing 48.15 per cent as investors traded 517.26 million shares against 997.57 points reported the previous day. Value of transactions also went down by 44.66 per cent to settle at N47.48 billion in 54015 deals.

The trading for the day further  showed that 

Honey Well Flour led market activities with 74.185 million shares valued at N1.792 billion, Access Holdings Company followed with account 41.601 million shares valued at N1.171 billion, GTCO Plc exchanged 41.065 million shares cost N4.797 billion, Fidelity Bank exchanged 29.173 million shares cost N672.985 million while Conhall Plc traded 58.503 million shares cost N202.321 million