Equity market sheds N63bn

Transactions on the floor of Nigerian Exchange (NGX) on Monday opened on a negative note, shedding N63 billion as the market dominated with bearish activities

Market Capitalisation of listed equities increased by 0.11 per cent to N59.471 trillion from N59.534 trillion reported the previous day.

The NGX All Share Index also depreciated by 103.23 basis points to 98107.52 points from 98210.75 points it closed on Friday.

Volume of trades declined by 603.961 million representing 50.07 per cent as investors traded 436.039 million shares valued at N12.864 billion in 9489 deals against 1.040 billion shares worth N17.462 billion in 7720 deals.

An analysis of the investment showed that Gold Breweries and NGX group led gainers table with 10 per cent each to close at N27.50 a N5.94 per share respectively. Tantalizer followed with a gain of 9.92 per cent to close at N1.33 per unit, Afriprudential gained 9.72 per cent to close at N11.85 per share, Wapic Insurance added 1.17 per cent to close at N9.35 per share.

On the contrary, NSLTECH topped losers’ chart, Dr lining by 10 per cent to close at N0.63 per unit, Guinea Insurance trailed with a drop of 8.93 per cent to close at N0.51 per share, Deap Capital declined by 8.40 per cent to close at N1.09 per share, Daar Communications sheds 7.02 per cent to close at N0.53 per unit, RTBriscoe fell by 6.12 per cent to close at N2.30 per share.

The result further showed that FCMB group led market activities with 61.650 million shares valued at N575.184 million, Access Holdings Plc followed with account of 51.056 million shares worth N1.231 billion, United Bank for Africa exchanged 27.154 million shares cost N914.573 million, GTCO Plc traded 24.487 million shares valued at N1.303 billion while Fidelity Bank exchanged 24.058 million shares valued at N377.708 million.