Equities market begins week with marginal loss of N14.7bn

Equities trading on the Nigerian Stock Exchange (NSE) begin the new week with minimal loss of N14.7 billion in capitalisation, representing 0.12 per cent decline as against the growth 0.17 per cent increase recorded on Friday.

On Monday, the market capitalisation of equities on the local bourse closed at N11.832 trillion as against the opening mark of N11.846 trillion, just as the All Share Index (ASI) lost 28.16 basis points to close at 22,705.29 points, consequently Month-to-Date and Year-to-Date losses reduced to -13.47 per cent and -27.05 per cent, respectively.

The total volume of trades on the Nigerian Stock Exchange (NSE) reduced to 551.5 million units, valued at N5.8 billion and exchanged in 6,981 deals. Guaranty Trust Bank was the most traded stock by volume and value at 137.2 million units and N2.6 billion respectively.

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First Bank of Nigerian Holdings followed having traded 135.3 million shares worth N518.3 million, while Zenith Bank exchanged 133.2 million shares worth N1.7 billion.

However, market sentiment as measured by market breadth, was positive as 18 stocks gained, relative to 14 stocks that depreciated in value. Union Bank of Nigeria and five others emerged as the top gainers with ten per cent appreciation while Transnational Corporation emerged as a top loser, having depreciated by ten per cent

The downtrend was impacted by loses recorded in large and medium capitalised stocks, amongst which are; FBN Holdings, having depreciated by -7.50 per cent, WAPCO declined -6.10 per cent, United Bank for Africa also shed -5.61 per cent, Dangote Sugar lost -2.96 per cent in value, Fidelity Bank shed -0.60 per cent, Nigerian Breweries dipped by 0.18 per cent, while MTN Nigeria lost -0.11 per cent.

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