STOCK MARKET LOSES N49BN ON PROFIT-TAKING
Equity transactions on the Nigerian Stock Exchange on Monday closed on the negative route to further extend losses as investors continue to take profits from last week’s gains. The market breadth closed positive with recorded 14 gainers against 12 losers. Consequently, the All-Share Index dipped 94.57 basis points or 0.39 per cent to close at 23,950.83 index points as against 24,045.40 recorded the previous trading session.
Market capitalisation of equities depreciated by N49bn from N12.531tn the last Friday to N12.482tn as market sentiment remained in the negative territory. Meanwhile, a turnover of 207.25 million shares exchanged in 4,460 deals was recorded in the day’s trading. The premium subsector was the most active (measured by turnover volume); with 68.26 million shares exchanged by investors in 1,547 deals.
Volume in the subsector was largely driven by activities in the shares of FBNH Plc and Access Bank Plc. Also, the insurance subsector boosted by the activities in the shares of Regency Assurance Plc and AIICO Insurance Plc followed with a turnover of 4.73 million shares in 198 deals. A further analysis of the day’s trading showed that on percentage terms, Unilever Nigeria Plc topped the day’s gainers’ table with 10 per cent to close at N11.55 per share while MC Nichols Plc followed with 9.52 per cent to close at 46 kobo per share. Jaiz Bank Plc added 9.09 per cent to close at 60 kobo per share.