Equity market shed N21bn

Nigeria’s equity market Monday resumed the week on a bearish note, shedding N21 billion following profit taking in the shares of Dangote Sugar, GTCO Plc and other stocks.

The development impacted on the market forcing the the NGX All Share Index to decline  by 38.49 basis points to 66876.92 points from 66915.41 points reported the previous day.

Market capitalisation of listed equities also declined by 0.06 per cent to N36.742 trillion from N36.763 trillion reported the previous day.

An analysis of the investment showed that Thomas Way led gainers table in percentage terms, gaining 9.92 per cent to N3.99 per share, Academy Press followed with a gain of 9.71 per cent to close at N1.92 per unit, Ikeja Hotel added 9.52 per cent to close at N3.45 per unit, Chams Plc increased by 7.38 per cent to close at N1.60 per unit, Tantalizer added 6.90 per cent to close at N0.31 per share.

Volume of trades increased by 135.726 million, representing 65.92 per cent as investors traded 314.619 million shares valued at N4.388 billion in 6133 deals against  205.893 million shares cost N6.380 billion in 4986 deals.

On the contrary, VFD group recorded the highest loss during the day, shedding 9.99 per cent to close at N242.40 per share, Mcnichols followed with 9.69 per cent to close at N0.56 per share, UPL dipped by 9.32 per cent to close at N2.14 per unit, Chi pls declined by 5.22 per cent to close at N1.09 per unit, Omatek down by 4.44 per cent to close at N0.43 per unit.

Transactions in the shares of United Bank for Africa led market activities with 47.150 million shares valued at N900.695 million, AccessCorp followed with a gain of 40.348 million shares valued at N666.866 million,FCMB group traded 29.054 million shares cost N173.552 million, GTCO Plc exchanged 27.393 million shares worth N959.246 million while Transcorps sold a total of 16.435 million shares valued at N102.039 million.