Equities market begins week on negative note, loses 124 basis points

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7 years ago

The Equities market began the week on a negative note with a loss of 124 basis points at the close of the trading session at the Nigerian Stock Exchange (NSE) on Monday.

Specifically, market capitalisation similarly dropped to N13.20 trillion from N13.37 trillion. However, Market breadth closed flat with 19 counters on both gainer’s and loser’s chart.

With the exception of the Banking sector which gained 29 basis points and ASEM which maintained its horizontal stance, all other sector performance indices closed in the red zone.

Presco Plc top the gainers’ chart with 8.81 per cent at a closing price of N66.17 today followed by UAC-PROP at 4.66 er cent, Champion Breweries at five per cent, Vitafoam Pls at five per cent and Union Bank of Nigeria at 4.90 per cent.

On the other hand, Cadbury, Eterna, International Breweries, Nascon and Caverton topped the losers chart. Dangote Cement, Guaranty Trust Bank, Zenith Bank, FBN Holdings and United Bank for Africa were the top traded stocks in terms of volume and value.

Market activities in terms of volume ascended by 76.86 per cent from the previous level of 425 million to close at 752 million today and value advanced by 13845.55 per cent to close at N1.28 trillion from the previous close of N9.17 billion. This, as a result of the recently added shares of Stanbic and International Breweries.

The decline recorded on Monday was attributed to selling off on Dangote Cement’s shares amounting to 73.14 per cent of the day’s total volume and 97.04 per cent of total value traded.