Equities market opens with loss, as investors lose N472bn

By Seun Ibiyemi 

Investors in the Nigerian equities market lost N472 billion at the close of trading on Monday, starting the week on a bearish note.

The downturn was driven by declines in the share prices of key stocks such as Linkage Assurance, RT Briscoe, and NAHCO, among others, on the trading floor.

The All-Share Index (ASI) fell by 0.50%, dropping to 148,781.9 points from 149,524.81 points recorded at the previous session. 

Consequently, the equity capitalisation decreased to N94.5 trillion from N94.9 trillion posted on Friday.

Market sentiment remained negative, as 40 stocks declined, while only 13 gained, and 93 remained unchanged across 32,564 deals.

In total, investors exchanged 364.35 million units of shares, valued at N11.3 billion.

On the gainers’ chart, Aso Savings and Loans, Deap Capital Management & Trust, and Cornerstone Insurance led with 10 per cent, 9.83 per cent, and 8.70 per cent growth, closing at N0.99, N1.90, and N6.00 per share, respectively, up from N0.90, N1.73, and N5.52.

Conversely, Linkage Assurance, RT Briscoe, and NAHCO topped the losers’ list with respective declines of 10 per cent, 10 per cent, and 9.95 per cent, to close at N1.62, N3.06, and N95.00 per share, compared to their previous closing prices of N1.80, N3.40, and N105.50.

On the activity chart, Access Holdings Plc led trading with 22 million shares exchanged in 1,529 deals, followed closely by Zenith Bank Plc, which traded 21 million shares in 1,740 deals. Chams Plc recorded 17 million shares in 547 deals.

In terms of value, Dangote Cement topped with transactions worth N2.1 billion in 842 deals, followed by Zenith Bank Plc, which recorded trades valued at N1.3 billion, while WAPCO posted N1 billion in 490 deals.

The market’s weak start to the week reflects renewed investor caution amid persistent sell-offs in large-cap stocks.