Equity market opens negative, sheds N7bn

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Domestic equity on Monday returned to a negative trend, declining by N7 billion.


Market capitalisation of listed equities depreciated by 0.02 per cent to N30.387 trillion from N30.394 trillion reported the previous day.


The NGX All Share Index also declined by 13.79 basis points to 55806.71 points from. 55820.50 points traded on Friday.


A review of the investment showed that Omotek, NEM Insurance led gainers table during the day in percentage terms, gaining 10 per cent each to close at N0.22 Kobo and N5.50 Kobo respectively.


Conoil and MRS followed with a gain of 9.94 per cent each  to close at N76.85 and N54.20 per unit respectively while Eterna Plc fell by 9.73 per cent to close at N10.15 per share.


On the contrary, JohnHolt recorded the highest loss in percentage terms, declining by 9.95 per cent to N1.72 per unit, Courtvellle Business Solutions trailed with a loss of 9.80 per cent  to close at N0.46 per unit, Chams Plc down by 9.76 per cent to close at N0.32 per share, Wapic Insurance fell by 9.76 per cent to close at N0.42 per unit, Academy Press down by 7.89 per cent to close at N1.75 per unit.


Investors exchanged 369.779  million shares valued at N19.841 billion in 7221 deals against 455.760 million shares worth N6.117 billion exchanged hands the previous day in 7457 deals.


Transactions in the shares of Geregu Power led activity during the day, with 52.491 million shares valued at N16.365 billion, NPF MicroFinance Bank followed with account of 50.023 million shares cost N90.041 million, Access Corp traded 46.234 million shares valued at N573.551 million, Zenith Bank traded 28.745 million shares cost N800.619 million, United Bank for Africa traded 16.246 million shares worth N151.743 million.

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