The equities market opened this week on a bearish trend as sell-off, which had eroded the value of stocks, deepened.
As a result, the market capitalisation of the listed equities declined by N89 billion from N10.156 trillion to N10.067 trillion. Similarly, the Nigerian Stock Exchange (NSE) All Share Index dropped by 0.88 per cent or 271.08 basis points to close at 30,492.30 basis points.
Only 15 stocks recorded price appreciation on Monday, while 34 others recorded price depreciation. Seplat recorded the highest price loss of N29.83, to close at N295 per share. Guinness trailed with a loss of N5.61 to close at N117, while Flourmill dipped by N4.24 to close at N39.49 per share.
Nigerian Breweries lost N2.09 to close at N143.50, while UACN depreciated by N1.90 to close at N36.10 per share.
On the other hand, Forte Oil led the gainers’ chart by N9.32, to close at N216.90 per share. Beta Glass gained N1.20 to close at N25.20, while Ikeja Hotel grew by 19 kobo to close at N4 per share.
Custodian and Allied Insurance appreciated by 16 kobo to close at N3.60, while Fidson went up by 15 kobo to close at N3.24 per share.
The volume of shares traded yesterday increased by 4.60 per cent as investors exchanged a total of 372.642 million shares worth N3 billion in 4,179 deals.
FBN Holdings emerged as the investors’ delight, accounting for 58.9 million shares worth N505.3 million. NEM Insurance exchanged 50.7 million shares valued at N30.9 million, while FCMB sold 43.7 million shares worth 124.51 million.
Zenith Bank traded 27.05 million shares valued at N463.1 million and UBA sold 22.12 million worth N87.2 million.
As a result, the market capitalisation of the listed equities declined by N89 billion from N10.156 trillion to N10.067 trillion. Similarly, the Nigerian Stock Exchange (NSE) All Share Index dropped by 0.88 per cent or 271.08 basis points to close at 30,492.30 basis points.
Only 15 stocks recorded price appreciation on Monday, while 34 others recorded price depreciation. Seplat recorded the highest price loss of N29.83, to close at N295 per share. Guinness trailed with a loss of N5.61 to close at N117, while Flourmill dipped by N4.24 to close at N39.49 per share.
Nigerian Breweries lost N2.09 to close at N143.50, while UACN depreciated by N1.90 to close at N36.10 per share.
On the other hand, Forte Oil led the gainers’ chart by N9.32, to close at N216.90 per share. Beta Glass gained N1.20 to close at N25.20, while Ikeja Hotel grew by 19 kobo to close at N4 per share.
Custodian and Allied Insurance appreciated by 16 kobo to close at N3.60, while Fidson went up by 15 kobo to close at N3.24 per share.
The volume of shares traded yesterday increased by 4.60 per cent as investors exchanged a total of 372.642 million shares worth N3 billion in 4,179 deals.
FBN Holdings emerged as the investors’ delight, accounting for 58.9 million shares worth N505.3 million. NEM Insurance exchanged 50.7 million shares valued at N30.9 million, while FCMB sold 43.7 million shares worth 124.51 million.
Zenith Bank traded 27.05 million shares valued at N463.1 million and UBA sold 22.12 million worth N87.2 million.
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