Equities market sheds N2.34trn
Trading on the floor of Nigerian Exchange NGX on Monday remained on negative trajectory, shedding N2.34 trillion as profit taking in major stocks impacted negatively on the market performance.
Market capitalization of listed equities declined by 1.57 per cent to N146.564 trillion from N148.905 trillion reported the previous day.
The NGX All Share Index also depreciated by 3647.10 basis points to 228401.92 points from 232049.02 points it closed on Friday.
Negative performance recorded during the day was driven by losses in the stocks MTN Nigeria, Unilever Nigeria Plc and 45 others which affected trading for the day.
The market breath was negative with 47 decliners against 17 advancers, bringing year to date return to 46.78 per cent.
An analysis of the investment showed that UPDC led gainers table with 9.23 per cent to close at N3.55 per share, Regal Insurance followed with a gain of 8.86 per cent to close at N0.86 per unit, CNIF added 5.45 per cent to close at N116.00 per share, Sovereign Trust Insurance added 4.08 per cent to close at N0.08 per unit, Cornerstone Insurance grew by 3.43 per cent to close at N0.20 per share.
On the contrary, MTN Nigeria, LearnAfrica and Unilever Nigeria Plc topped losers’ chart with 10 per cent each to close at N747.00, N9.00 and N126.00 per unit respectively. AustinLaz trailed with a loss of 9.94 per cent to close at N3.17 per unit, Abbey Building Society down by 9.94 per cent to close at N7.25 per share.
Volume of trades increased by 666.31 million, representing 171.42 per cent investors traded 1.055 billion shares against 388.690 million reported the previous day. The valued of transactions up by 141.73 per cent to settle at N44.60 billion.
Transactions in the shares of Ikeja Hotel led market activities with 305.541 million shares worth N13.214 billion, Access Holdings company followed with account of 290.034 million shares worth N6.626 billion, Sterling Bank traded 33.325 million shares cost N254.565 million, Chams Plc traded 22.012 million shares cost N87.940 million while Dangote Sugar exchanged 29.401 million shares cost N87.940 million.
