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Equities open week negative with N38bn loss

The Nigerian equities market yesterday began the trading week on the negative following sustainable sell pressure.

 

The market breadth closed flat with 18 losers and gainers apiece. Key market indicators, the NGX ASI declined by 0.15 per cent as bargain hunters sustained profit takings.

Consequently, the NGX All-Share Index dropped by 70.37 basis points or 0.15 per cent from 46,964.23 index points last Friday to 46,893.86 while the market capitalisation of equities depreciated by N38 billion to close at N25.273 trillion from N25.311 trillion.

On the activity chart, banking sub-sector dominated in volume terms with 117.33 million shares exchanged in 855 deals. The sub sector was enhanced by the activities in the shares of GTCO Plc and Sterling Bank Plc.

 

Also, insurance subsector equally boosted by activities in shares of Linkage Assurance Plc and Sovereign Trust Plc followed with 43.74 million units traded in 210 deals.

 

In all, investors exchanged a total of 359.89 million shares exchanged in 5,163 deals. Further analysis of the day’s trading showed that Beta Glass Nigeria Plc led the gainers chart by 9.92 per cent to close at N58.20 per share while PZ Cussons Plc followed with 9.68 per cent to close at N10.20 per share and Livestock Feeds Plc trailed with a gain of 9.03 per cent to close at N1.69 per share.

 

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