Equities investors lose N71.9bn as market opens week bearish

Nigerian equities opened the week on a negative note, as the All-Share Index declined by 0.30 per cent to close at 43,837.89 basis points.

At the Nigerian Exchange Limited (NGX), equities trading resumed the week on a bearish note as profit-taking activities on MTN Nigeria’s stock, having dipped by 2.4 per cent, underpinned Monday’s performance.

Consequently, the Month-to-Date loss and Year-to-Date gain settled at -0.1 per cent and +2.6 per cent, respectively.

Equities investors, therefore, lose N71.85 billion as the market capitalization settled lower to N23.88 trillion by the end of trading activities on Monday.

As measured by market breadth, market sentiment was flat as an equal number of 12 tickers gained and lost.

On the performance board, FTN Cocoa and CHI Plc recorded the most significant gains of the day having appreciated in value by 9.7 per cent and 6.9 per cent, respectively; while John Holt and SCOA topped the losers’ list after their respective share prices dipped by 9.9 per cent and 9.7 per cent.

Performance across sectors was mixed, as the Insurance and Banking indices recorded gains by 0.9 per cent and 0.3 per cent respectively, while the Oil & Gas index declined by 0.4 per cent. The Industrial Goods and Consumer Goods indices closed flat.

Analysis of market activities for the day under review showed trade turnover settled higher relative to the previous session, with the value of transactions up by 17.05 per cent. A total of 187.09 million shares valued at N2.54 billion were exchanged in 3,324 deals.

Access Holding led the volume chart with 87.92 million units traded while MTN Nigeria led the value chart in deals worth N764.37 million.

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