Equity market sheds N748 on first trading day
The domestic equity market on Monday opened on a negative note declining by N748 billion.
Market capitalisation of listed equities fell by 1.36 per cent to N54.383 trillion from N55.131 trillion reported the previous day.
The NGX All Share Index also depreciated by 1318.63 basis points to 95781.68 points from 97100.31 points traded on Friday.
Though the trading for the day closed downward, the market saw dominance of the bullish activity with 31 gainers outnumbering 18 losers bringing year to date return to 28.10 per cent.
The negative performance of the market was driven by loss recorded in the shares of Dangote Sugar, Dangote Cement, FBNHoldings, Nigerian Breweries, ETI and among others.
An analysis of the Investment showed that Cutix Plc, RTBriscoe, Skyavn led gainers table during the day, appreciating by 10 per cent each to close at N2.64, N1.87 and 26.40 per cent respectively. Oando Plc followed with a gain of 9.90 percent to close at N39.40 per unit, FTNCocoa added 9.57 per cent to close at N2.06 per unit.
On the contrary, Dangote Cement topped losers chart, dropping by 10 per cent to close at N532.00 per unit, NSLTECH trailed with a loss of 9.76 per cent to close at N0.37 per share, Afriprudential fell by 9.68 per cent to close at N8.40 per unit, Beta Glass down by 9.43 per cent to close at N48.00 per unit, Caverton Business Solutions dipped by 6.38 per cent to close at N1.32 per unit.
Volume of trades increased by 3.197 billion, representing an growth of 90.159 per cent as investors traded 3.546 billion valued at N7.649 billion in 9291 deals against 348.952 million shares worth N7.464 billion exchanged hands in 7677 deals.
Transactions in the shares of GTCO Plc led market activities with 59.254 million shares valued at N2.727 billion, Wema Bank followed with account 25.350 million shares worth N155.065 per share, AccessCorp traded 24.696 million shares cost N471.223 million, United Bank for Africa exchanged 23.359 million shares cost N529.570 million while Fidelity Bank traded 22.176 million shares valued at N236.935 million.
