Investors lose ₦13bn as the stock market falls

Following market apathy, equity trading on the Nigerian Stock Exchange (NSE) floor on Monday opened the trading week on the negative route.

As gathered by Daily Times, the market breadth closed positively with 16 gainers against 15 losers.

The NSE All-Share Index dipped 23.41 basis points or 0.09 per cent to close at 25,582.23 as against 25,605.64 recorded the previous trading session.

The market capitalisation of equities depreciated by ₦13 billion from ₦13.36 trillion last Friday to ₦13.35 trillion as market sentiment remained in the negative territory.

Meanwhile, a turnover of 254.97 million shares traded in 4,699 deals was recorded in the day’s trading.

The premium subsector was the most active (measured by turnover volume), with 126.81 million shares traded by investors in 2,034 deals.

Volume in the subsector was largely driven by trading activities on the shares of the United Bank for Africa Plc and Zenith Bank Plc.

Other financial institutions subsector was boosted by the trading activities on the shares of FCMB Plc and Custodian Investment Plc, with a turnover of 38.29 million shares in 285 deals.

Further analysis of the day’s trading showed that Eterna Oil Plc topped the day’s gainers’ table with 9.13 per cent to close at ₦2.25 per share while NEM Insurance Plc followed with 8.70 per cent to close at ₦2.25 per share.

C&I Leasing Plc appreciated by 8.33 per cent to close at ₦3.90 per share.

On the other hand, Honeywell Flour Mills Plc led the losers’ table with a drop of 6.25 per cent to close at 90 kobos per share while Chams Plc shed 4.55 per cent to close at 21 kobos per share.

Red Star Express Plc declined by 4.37 per cent to close at N3.72 per share.