Equities trades opens week weaker by 0.38%

THE Nigerian Equities market began the week on a negative note, as major market indicator dipped by 0.38 percent.

All Share Index (ASI) dropped 38 basis points to bring the Year-To-Date returns to 31.37 percent.

The market capitalisation closed at N12.274 trillion relative to the last trading day’s close which was N12.321 trillion, while ASI closed with 35,306.09 basis points.

Volume of trade increased by 168.98 percent from approximately 236 million shares traded in the previous session to 634 million shares traded today.

The value data recorded showed an estimate of six billion naira for the day as against Friday’s four billion naira representing a 51.06 percent increment from the previous trading level.

C&I Leasing, Learn Africa, Caverton, NEM, and UBN closed the trading session as the top gainers based on market performance numbers while Unity Bank Plc, PZ Plc, United Capital, Cadbury Plc and Sterling Bank Plc lead the top losers’ chart.

NSEASI, NSE 30, Consumer Goods, Oil&Gas and the Lotus Islam sectors closed negative, while the Banking, Insurance and Industrial sectors surged northwards.

NSE ASEM as it did at the close of last week remains the same through trading days.

According to Analyst at APT Securities, the market breadth ratio stood at 0.78 with 23 stocks as losers against 18 stocks on the gainers’ chart.

They, however, advised investors to position with carefully studied stocks to avoid ridiculous losses.