Equity market resume week negative, sheds N57bn

Domestic equity market Monday opened the week bearish, declining by N57 billion. Fall in the shares price of RTBriscoe, Nigeria  Breweries,  Stanbic IBTC, Transacorp and others impacted negatively on the market.

Market capitalisation of listed equities which went down by 0.15 per cent to N39.050  trillion from N39.107 trillion it closed last week Friday.

The NGX All Share Index also depreciated by  104.29  basis points to 71008.70 points from 71112.99 points traded on Friday.

An analysis of the investment showed that Mecure led gainers table in percentage terms, gaining 9.95 per cent to close at N6.30 per share, Multiverse followed with a gain of 9.92 per cent to close at N3.99 per unit, ABC Transport added 9.88 per cent to close at N0.89 per unit, C& I Leasing gained 9.84 per cent to close at N5.47 per unit. Northern Nigeria Flour Mills Nigeria Plc increased by 9.83 per cent to close at N26.25 per unit.

On the contrary, RTBriscoe recorded the highest loss during the day, dropping by 9.84 per cent to close at N0.55 per share, Prestige insurance trailed with a loss of 9.09 per cent to close at N0.50 per unit, Stanbic IBTC down by 7.08 per cent to close at N65.00, CWG fell by 3.04 percent to N7.70 per share, Caverton Business Solutions declined by 2.78 per cent to close at N1.40 per unit.

Volume of trades also dropped by  83.134 million, representing 18.82 percent as investors traded 358.445 million shares valued at N4.357 billion in 6551 deals against 441.579 million shares worth N6.032 billion exchanged hands the previous day in 5883 deals. The result further showed that transactions in the shares of AccessCorp led market activities during with 27.583 million shares valued at N474.629 million, AIICO Insurance followed with 21.931 million shares cost N16.649 million, Japaul Gold traded 21.240 million shares cost N37.212 million, Veritas Kapital exchanged 18.995 million shares valued at N5.881 million while Transnational Corporation of Nigeria exchanged 17.073 million shares valued at N104.631 million.