Equities market opens week weaker by 0.29 per cent

The equities market extends losing streak to start another week on a bearish trend as the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) shed 0.29 per cent pegging the year to date return at – 7.78 per cent.

Also, the market capitalisation was capped at N12.91 trillion, having depreciated from N12.95 trillion It recorded at the end of trading activity on Friday, thus investors lost N34.02 billion on Monday.

Similarly, Market breadth closed in favour of the bear with 11 stocks closing in the green zone as against 26 losers.

Japaul Oil, Nestle Nigeria, Fidson, Sterling Bank and Unity Bank led the gainers’ chart, while at the rear of the chart, Neimeth Pharmaceuticals, CUTIX, Honeywell Flour, Stanbic IBTC and Chams led the chart.

All Sectoral Indices closed southward aside for Consumer goods Sector owing to price gain in Nestle Nigeria, while NSEASEM remained flat.

The market recorded a total of 124 million shares today worth 1.318 billion in value, representing -28.62 per cent and 34.41 per cent decrease respectively from 174 million shares worth 2.01 billion in the previous session.

The toast of investors on Monday was Japaul Oil, Guaranty Trust Bank, Zenith Bank, United Bank for Africa and Chams, having ended the trading day as top performers in terms of volume while Guaranty Trust Bank, Okomu Oil Palm, Nestle Nigeria, Zenith Bank and Dangote Cement made up the top five performers in terms of the value of units traded.

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