The Domestic equity market on Monday opened bearish, shedding N289 billion. as profit taking activities persisted in the market coupled with the absence of major corporate earnings.
Market capitalisation of listed equities declined by 0.49 per cent to close at N58.879 trillion from N59.168 trillion reported the previous day.
The NGX All Share Index also depreciated by 511.02 basis points to 104136.35 points from 104647.37 points traded on Friday.
As a result, year to date return stood at 39.27 per cent as NGX printed 30 losers higher than 20 gainers.
An analysis of the Investment showed that EllaLakes led gainers table, gaining 10 per cent to close at N3.63 per share, Morison industry followed with a gain of 9.93 per cent to close at N1.55 per share, SUNU Assurance gained 9.48 per cent to close at N1.27 per unit, Caverton Business Solutions added 9.37 per cent to close at N1.75 per unit, Sovereign Trust Insurance grew by 9.09 per cent to close at N0.48 per share.
On the contrary, International General Insurance and Dangote Sugar topped losers’ chart, dropping by 10 per cent each to close at N1.35 and N53.10 per unit respectively. Jaiz Bank trailed with a loss of 9.92 per cent to close at N2.18 per unit, Ikeja Hotel dipped by 9.72 per cent to close at N5.85 per unit, Deap Capital down by 9.52 per cent to close at N0.57 per unit.
Volume of transactions also declined by 198.366 million, representing 39.27 per cent as investors traded 306.821 million shares valued at N11.383 billion in 9343 deals against 505.187 million shares worth N14.235 billion exchanged hands the previous day in 9574 deals.
Trading for the day showed that NDIF led market activities with 35.547 million shares valued at N4.523 billion, Jaiz Bank followed with account of 23.155 million shares cost N52.573 million, United Bank for Africa exchanged 19.539 million shares cost N519.285 million, Nigerian Breweries traded 17.434 million shares worth N499.183 million while AccessCorp sold a total.of 15.284 million shares cost N363.869 million
