Equity market starts week with N112bn loss

The Nigerian Stock Exchange started the week on a negative note, as investors lost N112bn.

The All-share index and market capitalisation shed 0.24 per cent to close at 96,205.85 and N55.28tn, respectively.

A total of 774,377,516 shares were traded in 10,412 deals, amounting to a market value of N14.65bn, representing a 103 per cent leap in volume, 73 per cent in turnover and a 30 per cent rise in deals.

Among the top gainers, Eterna led with a 10 per cent increase, closing at N33.00 per share, followed by Tantalizers with a 10 per cent gain to close at N 89.50, while Oando and FTN Cocoa Processors rose by 9.95 per cent and 9.93 per cent to close at N89.50 and this N 1.66, respectively.

On the losing side, Learn Africa dipped 11.18 per cent to N4.13 per share to emerge as the highest decliner.

It was followed by Julius Berger Nigeria with a 10 per cent decrease to close at N153.45, Transcorp Power at 9.99 per cent to close at N 301.70, and McNichols, which fell by 9.4 per cent to close at N1.35.
Jaiz Bank recorded the highest trading volume with 247 million shares, followed by Zenith Bank with 173 million shares, FBN Holdings with 41.5 million shares, and Guaranty Trust Holding with 33.9 million shares.

The PUNCH reports that the Nigerian Exchange lost N83bn last week as the All-Share Index and market capitalisation depreciated by 0.15 per cent due to sell-offs in big stocks. The ASI closed the week at 96,433.53 points, while the market capitalisation settled at N55.39tn.