Equities market on NGX opens the week on declination by 0.33 per cent

By Philemon Adedeji

Transaction on the Nigerian Exchange Limited (NGX), closed marketing activities yesterday on negative note, this is due to losses in REGALINS, JAPAULGOLD, WAPIC INSURANCE PLC, JAIZBANK and 15 others, as market capitalisation dropped further by 84 billion.

Specifically, at the close of trading yesterday, All Shares Index declined by 155.01 basis points representing a decrease of 33 per cent to close trade at 46,687.85 Index points.

Consequently, the overall market capitalisation valued depreciated by 84 billions to close at N25.169 trillions.

The total trade volume decreased by 15 per cent, from 257,327180 million units it closed the week on Friday to 219,495,846 million units it closed yesterday, valued N1.930 billions exchange in 5,168 deals.

As measured by market breadth, market sentiments was negative as 22 stocks that gained, While 19 others stocks constituted losers chart.

On the price movement chart, REDSTAREX came as the highest price gainer which rose by 10 per cent or 0.27 kobo increased to close trade at N2.97 per share, while NAHCO which followed gained 9.79 per cent or 0.42 kobo increased to close trade at N4.71 per share. MEYER was recorded as the third best gainer grew by 9.72 per cent increased to close trade at N0.79 per share.

VERITASKAP appreciated by 0.02 kobo representing 9.52 per cent increased to close trade at N0.23 per share and UPDC was recorded as the last fifth gainer moved by 9.21 per cent or 0.07 kobo to close trade at N0.83 per share.

On the losers chart, Regalins topped the list as the highest loser  after trading yesterday which declined by 9.68 per cent or 0.03 kobo to close trade at N0.28 per share. JAPAULGOLD followed  behind, depreciating by 0.03 kobo to represent 8.82 per cent and close trade at N0.31 per share.

WAPIC INSURANCE PLC dipped by 6.82 per cent or 0.03 kobo to close trade at N0.41 per share, LINKASSURE dropped by 0.03 kobo to represent 6 per cent to close trade at N0.47 per share, and JAIZBANK followed by 5.71 per cent or 0.04 kobo to close trade at N0.66 per share.

On the activity chart, TRANSCORP led as the highest trader which transacted 28.942 million shares worth N28.484 million. Fidelity Bank followed as the second best trader which traded 23.530 million shares valued at N79.955 million. United bank of Africa traded 15.085 million shares worth N113.721 million.

Zenith Bank, the fourth best trader, transacted 12.579 million shares valued at

N278.404 million and lastly, Accesscoro traded 11.958 million shares worth N116.291 million.