Equities market opens week with marginal decline as investors lose N9.32bn

The Nigerian equities market index declines by 0.06 per cent on Monday to open the week on a bearish note as investors lose N9.32 billion.

All Share Index (ASI) of the Nigerian Stock Exchange (NSE) fell by 0.06 per cent amid sustained profit taking activity to close at 24,269.58 basis points, just as the market capitalization closed at N12.67 trillion as against an opening of N12.66 trillion.

Performance followed the same negative trend as the Exchange printed 13 losers as against 12 gainers at the close of the trading session. Hence, the year to date loss of the NSE ASI rose to 9.56 per cent.

Similarly, the NSE Banking Index moderated by 0.45 per cent as investors took profit on blue-chips in the sub-sector as the prices of Access Bank, Zenith Bank and FBN Holdings tanked by 1.61 per cent, 0.63 per cent and one per cent, respectively.

However, performance across sub-sector was mixed as the NSE Insurance and NSE Oil/Gas indices rose by 0.36 per cent and 0.32 per cent respectively while the NSE Consumer goods and NSE Industrial indices closed flat.

Meanwhile, the volume and value of stocks traded rose by 90.09 per cent and 42.62 per cent to 0.30 billion units and N2.1 billion respectively as Sovereign Insurance was the most traded stock by volume at 75.56 million units while Guaranty Trust Bank was the most traded stock by value at N795.13 million.

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