Equity market resumes week bearish, drops by N51bn

Trading activities on the floor of Nigerian Exchange (NGX) on Monday closed lower, shedding N51 billion as losses recorded in the shares of Dangote Sugar, Presco , GTCO, Nestle Nigeria Plc, Eterna Plc out weigh gain in the shares of FBNHoldings, Nascon and 23 others.

Market capitalisation of listed equities declined by 0.09 per cent to N55.810 trillion from N55.861 trillion reported the previous day.

The NGX All Share Index also depreciated by 93.09 basis points to 101995.21 from 102088.30 points reported the previous day.

An analysis of the investment showed that Nascon led gainers table with a gain of 10 per cent to close at N66.00 per unit, Juli Pharmaceutical followed with a gain of 9.83 per cent to close at N2.57 per share, FBNHoldings added 9.68 per cent to close at N34.00, Wapic Insurance increased by 8.96 per cent to close at N0.73 per share, Daar Communication grew by 8.86 per cent to close at N0.66 per share.

On the contrary, Nestles Nigeria Plc recorded the highest loss during the day, dropping by 10 per cent to close at N990.0, Eterna Plc trailed with a loss of 9.97 per cent to close at N15.80 per unit, Fidson Nigeria Plc dipped by 9.82 per cent to close at N15.15 per share, CWG down by 9.56 per cent to close at N6.15 per share, SUNU Assurance fell by 9.09 per cent to close at N1.90 per share.