Equity market remains volatile, sheds N22bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) yesterday opened week in a negative trend, as valued of equities declined by N22 billion.

Specifically, market Capitalisation of listed equities depreciated by 0.16 per cent to N13.450 trillion from N13.472 trillion reported on Friday.

The NSE All Share Index also dipped by 44.48 basis points to 27630.56 points from 27675.04 traded the previous day.

Investors traded 194.796 million shares worth N3.064 billion in 2910 deals against 187.291 million shares valued at N2.128 billion in 2942 deals.

A review of the transactions showed that Nestle Nigeria Plc led gainers table during the day , gaining N49.90 kobo to close at N1394.90 kobo, Total Nigeria Plc followed with a gain of N9.50 kobo to close at N129.50 kobo, Cap Plc gained N2.30 kobo to close at N25.55 kobo, Guaranty Trust Bank increased by N1.60 kobo to close at N29.20 kobo, Dangote Cement Industry added N0.80 kobo to close at N151.50 kobo.

MTN Nigeria communications Plc on the contrary topped losers chart, dropping by N5.50 kobo to close at N130.50 kobo, Unilever Nigeria Plc trailed with a loss of N2.30 kobo to close at N26.70 kobo, Seplat Petroleum Development Company sheds N1.60 kobo to close at N555.09, Ecobank Transnational Incorporated down by N0.85 kobo to close at N8.05 kobo while Nascon fell by N0.30 kobo to close at N13.40 kobo

The NSE trading result further showed that Guaranty Trust Bank was the most active stock during the day, exchanging 58.493 million shares worth N1.625 billion, Access Bank followed with account of 50.416 million shares worth N385.970 million, FBNHoldings traded 22.211 million shares cost N115.188 million, FCMB group sold a total of16.780 million shares valued at N27.625 million while Transnational Corporation of Nigeria exchanged 7.185 million shares worth N7.342 million.