Trading resumes week negative, as market capitalization shed N85bn

The Nigerian equities market recorded a negative start to the new week, as market capitalization decreased by N85billion or 0.65 per cent to close at N13.081trn from N13.166trn recorded in previous trading session.

The All-Share Index also declined by 247.64 points or 0.65 per cent to close at 37,950.96 basis points, against its opening figure of 38,198.60 basis points.

As investors resume profit taking activities, most sector indicators also closed in negative territory except the Nigerian Stock Exchange (NSE) consumer goods index which emerged the day’s lone gainer, consequent on a 3.55 per cent increase in Dangote Flour.

The price movement chart showed Fidson topped the gainer’s list with an increase of 4.68 per cent to close at N3.13 per share. AG Leventis followed with an increase of 4.35 per cent, to close at 72 kobo, Linkage Assurance trailed with a growth of 4 per cent to close at 78 kobo, Union Bank of Nigeria appreciated 3.99 per cent to close at N6 per share, while Unity Bank gained 3.45 per cent to close at 60 kobo.

However, CI leasing topped the losers’ table with a decline of 9.26 per cent, to close at 98 kobo per share, while Total Nigeria and Medview trailed with a loss of 5 per cent each to close at N236.55 and N1.52 respectively.

May and Baker lost 4.84 per cent to close at N2.95 per share; and Flourmills Nigeria shed 4.83 per cent to close at N27.60 per share.

Turnover declined 10 per cent, as investors traded a total of 316.1mn units of shares compared to 353.65mn shares traded in previous session.

The value of shares traded in 4,113 deals also fell 33 per cent to N4.2bn, against N6.30bn traded exchanged in 4,079 deals on Friday.

Access Bank emerged the day’s most traded stock with 169.7mn shares valued at N1.8bn. It was followed by Guaranty Trust Bank with 26.2 million shares worth N1.03bn, while FBN Holdings sold 17.8mn shares valued at N110.1mn.

Fidelity Bank accounted for 12.97 million shares worth N17.0mn; and Zenith Bank traded 10.5 million shares valued at N248.3m.

Afolabi Adesola