Equity market opens week negative, sheds N71bn

Trading activities on the floor of Nigerian Exchange NGX yesterday opened week in negative trend, shedding N71 billion as investors sustained profit taking.

Market Capitalisation of listed equities declined by  0.36 per cent to  N19.724 trillion from N19.795 trillion

The NSE All Share Index dropped by 136.30 basis points to 37857.89 points from 37994.19 points.

The trading result for the day showed tbat Investors traded 187.243 million shares valued at N2.890 billion in 4017 deals against 241.839 million shares cost N2.707 billion exchanged hands the previous day in 3819 deals.

A review of yhe investment during the day, showed Tripple G recorded the highest gain, appreciating by 8.89 per cent to close at N1.00, Regal Insurance followed with account of 8.89 per cent to close at N0.49 kobo, UPDC increased by 7.44 per cent to close at N1.30 kobo, FTN Cocoa added 5.88 per cent to close at N0.36 kobo, Mutual Benefits Assurance up by 5.00 per cent to N0.42 kobo.

On the contrary, CWG recorded the highest loss during the week, shedding 9.52 per cent to close at N1.14 kobo, International Breweries trailed with a loss of 5.66 per cent to close at N5.00, Champion Breweries dipped by 3.23 per cent to close at N2.10 kobo, FBNHoldings sheds 2.60 per cent to close at N7.50 kobo, Mansard Insurance depreciated by 2.25 per cent to close at N0.87 per cent.