Stock Market Resumes Trading With N8bn Loss
Equity market resumed on Monday with a marginal drop in the market capitalisation and the All Share index (ASI).
The ASI dropped by 0.04% to close at 34,121.78 basic point on Monday as against 34,136.82 basic point it recorded on Friday.
The marginal dip in stocks also reflected in the market capitalisation which shed N8 billion or 0.04 per cent to close at N17.829 trillion compared to N17.837 trillion on Friday.
The marginal loss recorded by the market also showed in the fall in shares of big brands like Guinness, Stanbic IBTC, Lafarge Africa, Flour Mills and Ardova Plc.
The market turnover, however, increased, closing at 568.036 million volume of shares worth
N7.326 billion in 8,928 deals on Monday, as against 344.902 million shares which investors traded at N4.222 billion in 6,565 deals on Friday.
The market breadth saw Monday’s transaction recording 50 equities depreciating while 13 made gains.
The losers ‘chart in percentage terms was led by Lafarge Africa and Ardova Plc with both equities falling by 10 per cent to close at N22.05 and N13.5 per share respectively, while hile Guinness Nigeria Plc closely followed with a loss of 9.55 per cent to close at N18 per share.
Also, Flourmill and Stanbic IBTC dipped by 8 per cent to close at N25. 4 per share.
The gainers chart in percentage terms was per by Airtel Africa surging by 5.00 per cent to close at N525 per share, While BUA Cebeht appreciated by 4 77 per cent to close at N56 per share.
Also, Dangote Cement rose by 3.42 per cent to close at N199.8 per share, while Nestlé Nigeria Plc moved up by 1.82 per cent to close at N1400 per share. The top five gainers chart was completed by NEM Insurance when it grew by 0. 78 pee cent.
Mondays activity chart based on Volume parameters was led by Zenith Bank selling 79. 740 million shares at N1. 912 billion. While FBN Holding traded 72. 749 million shares worth N499.576 million.
Access Bank followed with 65.741 million shares worth N520. 344 million UBA came next with 46,968 million shares at N360. 036 million. Also, Guaranty Trust Bank sold 37,096 million worth of shares at N1.266,010 billion.
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