Equities market opens week with 0.67% decline

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The Nigerian equities market closed negative Monday leaving Nigeria Stock Exchange All-Share Index (NSE-ASI) with 0.67 per cent loss to close at 27,570.94basis points.

Market breadth index was also negative with 18 losers against 11 gainers.

Sectoral performances were broadly negative as Industrial index declined 1.55 per cent, Banking index by -1.46 per cent and Consumer Goods index by -1.25 per cent. However, the Oil & Gas index rose by 0.56 per cent.

In terms of activity levels, total volume and value increased by one per cent and 24 per cent, compared to last week Friday as investors exchanged over 135million units of shares worth over N1.58billion.

The loss was driven by losses recorded across most sectors. as investors continue to take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.

On a day that others were in the red, Zenith Bank remained on the top active stock table being the most traded stock with turnover of 22,451,922 million shares worth N441,626,828.15 million. It was trailed by UCAP which pulled 17,159,593 million shares valued N50,984,759.54 million, while Guaranty Trust recorded 12,424,031 million shares valued N362,837,030.20 million, as the third most active stock.

Unilever, as the fourth most traded recorded 10,244,641 million shares valued N153, 677,241.30 million, while UBA    closed the top five most active stocks chart with 8,809,880million shares worth N67, 253,813.00 million.

Oando led the gainers Monday with N0.15 or 4.35 per cent growth, to close the day at N3.6 per share.

NPFMCRFBK  closed as the fourth best gainer with N0.04 or 3.60 per cent growth, closing Monday at N1.15 per share, while SKYAVN closed the top five gainers chart at N2.91 per share, having appreciated by N0.04 or 1.39 per cent.

Guaranty led the losers yesterday with N0.9 or 3.01 per cent, ending the day at N29 per share, followed by Bua Cement which declined by N0.8 or 2.23 per cent, closing at N35 per share, while Inter Brew , the third-highest loser dipped by N0.7 or 9.03 per cent, ending the day’s trade at N7.05 per cent.

ETI, the fourth on the hierarchy of losers declined by N0.6 or 8.57 per cent, ending at N6.4 per share, while DANGSUGAR, the fifth on the losers’ chart, closed at N12.35 per share, following share price depreciation by N0.5 or 3.89 per cent.

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