Equity market opens negative, sheds N58bn

Trading activities on the floor of Nigerian Exchange (NGX) Monday declined marginally, shedding N5 billion.

Market capitalisation of listed equities decreased by 0.02 per cent to N25.561 trillion from N25.566 trillion reported on Friday.

The NGX All Share Index also depreciated by 8.81 basis points to 47428.67 points from 47437.48 points traded the previous day.

Investors traded 1.280 billion shares valued at N7.918 billion in 4735 deals against 1.153 billion shares cost N7.028 billion exchanged hands the previous day in 3928 deals.

An analysis of the transactions showed that RTBriscoe led gainers table during the day appreciating by 9.59 per cent to N0.80, Ecobank Transnational Incorporated followed with a gain of 7.27 per cent to N11.80, Prestige Insurance gained 6.52 per cent to N0.49, Niger Insurance gained 4.55 per cent to N0.23, Mutual Benefits Assurance increased by 3.85 per cent to N0.27. On the contrary, Eterna Plc recorded the highest loss during the day, dropping by 10 per cent to N5.04, CWG trailed with a loss of 10 per cent to bN5.04, Royal Exchange Insurance dipped by N9.92 per cent to N1.09, Veritas Kapital down by 8.70 per cent to N0.21, SCOA Plc dropped by 8.13 per cent to N2.60.

The result further showed that FCMB group was the most active stock during the day, exchanging 1.024 billion shares valued at N3.839 billion, Fidelity Bank followed with account of 38.138 million shares cost N108.873, Zenith Bank traded 28.462 million shares valued at N768.123 million, Transnational Corporation of Nigeria exchanged 20.998 million shares valued at N23.791 million while GTCO Plc sold a total of 17.016 million shares cost N455.383 million.