Equities Market Sheds N448bn

The Nigerian Exchange Group Limited NGX started the week bearish as investors lost N448 billion on market capitalisation on Monday.

The loss came as a result of a drop in the share price of BUA Cement and 27 other stocks.

Monday’s trading session ended with 0.74 percent decline on market capitalization to close at N59.812 trillion lower than the N60.260 trillion recorded on Friday.

Consequently, the All-Share Index also depreciated by 740.01 basis points, representing a 0.74 percent decrease to close at 98,708.90 points compared to the 99,448.91 points of the previous day.

However, the Year-To-Date return remained positive by 32.01 percent.

The market sentiment as measured by market breadth was negative with 18 and 28 losers

Eunisell Limited led the gainers list with a 10 percent gain on its share price to close N3.85k. Livestock Feeds Plc followed with a 9.97 percent increase on its share price to close at N3.75k then; the Transcorp gained 9.95 percent on its share price to close at N48.60k.

On the other hand, BUA Cement led the losers list with a 10 percent drop on its share price to close at N99.00k. Lasaco Assurance Plc followed with a 9.97 percent loss on its share price to close at N2.58k; while DAARCOMM lost 9.38 percent to close at N0.58k.

At the end of day’s business a total of 353.18 million units of shares valued at N4.55 billion exchanged hands in 9,417 deals.

Trading in top three equities for the day were Chams Plc which had the highest volume of trade with 84.61 million shares valued at N169.20 million in 72 trades followed by UBA with 27.001
million shares worth N790.18 billion in 365 trades while Accesscorp had 22.22 million units valued at N503.63 billion in 557 trades.

Hauwa Abu