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NGX opens week negative with N20bn loss

The Nigerian equities market, yesterday, halted days of gains to begin the trading week negative as sell pressure was unabated, producing 28 losers and 13 gainers. Key market indicators, the NGX ASI, declined by 0.1 per cent as bargain hunters sustained profit taking.

 

Consequently, the NGX All-Share Index dropped by 45.7 basis points or 0.1 per cent from 38,726.10 index points last Friday to 38,680.40 while the market capitalisation of equities  depreciated by N20 billion to close at N20.164 trillion from N20.184 trillion.

 

On the activity chart, the premium sub-sector dominated in volume terms with 56 million shares exchanged in 1,258 deals. The sub-sector was enhanced by activities in shares of FBNH Plc and Zenith Bank Plc.

 

Also, the insurance sub-sector, equally boosted by activities in shares of Sovereign Trust Insurance Plc and Coronation Insurance Plc, followed with 56 million units traded in 304 deals.

 

In all, investors exchanged a total of 210.75 million shares in 3,958 deals  Further analysis of the day’s trading showed that Morison Nigeria Plc led the gainers chart by 9.73 per cent to close at N1.24 per share while Conoil Plc followed with 9.63 per cent to close at N20.50 per share and Veritas Kapital Insurance Plc with a gain of 8.33 per cent to close at 26 kobo per share.

 

On the flip side, Juli Pharmacy Plc led the losers’ chart by 8.47 per cent to close at N1.36 per share.

 

CWG Plc followed with a loss of 9.80 per cent to close at N1.38 per share while Japaul Gold Plc dropped by 8.47 per cent to close at 54 kobo per share.

 

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