Equity market sheds N11bn
The local equities market on Monday opened on a negative note, declining by N11 billion as profit taking in some major stocks weighed down on the trading activities during the day.
Market capitalisation of listed equities depreciated by 0.01 per cent to N106.342 trillion from N106.353 reported on Friday.
The NGX All Share Index also depreciated by 17.0 basis points to 166112.50 points from 166129.50 point recorded the previous day.
Although the market was positive with 44 advancers against 24 decliners, profit taking in some mid and heavyweight stocks dragged market downward, bringing year to date return to 6.73 per cent.
A review of trading during the day showed that Champion Breweries, Learn Africa and NCR led gainers table with 10 per cent each to close at N19.25, N7.15 and N141.40 per unit, respectively. Triple G followed with a gain of 9.94 per cent to close at N5.86 per share, Neimeth international Pharmaceutical added 9.90 per cent to close at N11.10 per share
On the contrary, IMG topped losers’ chart, dropping by 9.95 per cent to close at N34.85 per unit, HMCall trailed with a loss of 9.88 per cent to close at N3.83 per share, Living Trust Insurance down by 9.57 per cent to close at N4.44 per share, Ikeja Hotel dropped by 7.28 per cent to close at N32.50 per share, Union Dicon dipped by 5.26 per cent to close at N9.00 per unit.
Volume of trades went up by 89.719 million, representing 16.62 per cent as investors traded 629.600 million shares against 539.881 million reported the previous day. Value of transactions down by 11.74 per cent to settle at N14.753 billion in 57858 deals.
Trading in the shares of NSLTech led market activities with 83.307 million valued at N98.201 million, Access Holdings company followed with account of 52.879 million shares cost N1.214 billion, Jaiz Bank exchanged 39.730 million shares cost N339.106 million, Tantalizer exchanged 34.242 million shares valued at N103.109 million while Fidelity Bank exchanged 23.692 million shares valued at N473.450 million.
