Stock market returns to bearish trend, loses N340bn

Trading activities on the floor of Nigerian Exchange yesterday opened week in bearish trend, as the two market indicators declined by 1.6 per cent.

Specifically, Market Capitalisation of listed equities depreciated by N340 billion to N20.069 trillion from N20.409 trillion reported on Friday.

The NGX All Share Index also decreased by 648.99 basis points to 38507.29 Points from 39156.28 points recorded the previous day.

Investors traded 297.346 million shares valued at N3.649 billon in 4402 deals against 289.084 million shares valued at N3.545 billion in 3719 deals.

An analysis of the investment for the week showed that CWG led gainers table during the day, gaining 9.73 per cent to N1.24 kobo, Berger Paint followed with a gain of 6.72 per cent to N7.15 kobo, Redstarex added 4.19 per cent to close at N3.23 kobo, NEM Insurance added 3.89 per cent to N1.87 kobo , Wapic Insurance increased by 3.64 per cent to close at N0.54 kobo.

On the contrary, Airtel Africa PLC recorded the highest loss during the day, shedding 10.00 to close at N753.30 kobo, Okomuoil followed with a gain of 9.44 per cent to N105.50 kobo, Cornerstone Insurance declined by 9.09 per cent to close at N0.50 kobo, Learn Africa fell by 8.00 to close at N0.92 kobo, Livestock Feeds sheds 4.74 per cent to N1.81 kobo.

The result further showed that Access Bank Plc was the most active stock during the day, exchanging 43.138 million shares valued at N359.541 million, Sterling Bank followed with account of 33.208 million shared cost N52.131 million, Zenith Bank Plc traded 25.903 million shares cost N602.184 million, UACN sold a total of 22.925 million shares cost N216.791 million while Union Home Reits traded 19.013 million shares cost N695.875 million.