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NSE: Investors lose N13bn as bearish trend persists

The downtrend in the Nigerian equities market persisted with the All Share Index losing 0.15 per cent on Monday to close at 25,499.00 points from 25,537.54 points recorded in previous session, increasing the year to date losses to 10.97 per cent.

Investors also lost N13.3 billion as the market capitalization which opened at N8.791 trillion lost 0.15 per cent  to close the day at N8.778 trillion.

Investors’ appetite, remained weak as market breadth closed with 13 gainers paired against 17 losers.

Dangote Sugar led the declining stocks by 4.94 percent to close at N6.16 per share, this was followed by Continental Re-insurance that shed 4.81 percent to close at 99 kobo per share and Neimeth Pharmaceuticals that lost 4.65 percent to close at 82 kobo per share.

Wema Bank and Transcorp Nigeria likewise dropped 3.64 and 2.86 percent each to close at 53 kobo and 68 kobo per share respectively.

On the flip side, Transcorp Hotels led the gainers chart with a 4.95 percent growth to close at N5.51 per share, followed by Flourmills with a gain of 4.94 percent to close at N17 per share, while Fidson Healthcare recorded a 4.84 percent growth to close at N1.30 per share.

Cutix added 4.76 percent to close at N1.98 per share and Africa Prudential Registrars emerged the top fifth gainer with an appreciation of 3.92 percent to close at N2.65 per share.

Total volume traded in the course of the day declined by 32 percent to 112.4 million shares valued at N858.5 million in 2,532 deals, in comparison with 165.6 million units valued at N888.2 million exchanged in 2,279 deals last Friday.

Transcorp emerged the most traded stock for the day with 19.9 million shares valued at N13.6 million. Skye Bank followed with 14.1 million shares worth N7.1 million, while Diamond Bank traded 10.1 million shares valued at N9.2 million.

FCMB was responsible for 9.1 million shares worth N9.4 million and UBA came fifth, exchanging 8.5 million shares for N36.3 million.