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Reading: Equity market opens week bearish, declines 0.44%
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Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports. > Blog > Business > Equity market opens week bearish, declines 0.44%
Business

Equity market opens week bearish, declines 0.44%

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Last updated: August 14, 2023 5:50 pm
admin
3 years ago
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Transactions on the floor of the Nigerian Exchange (NGX) on Monday opened in the negative territory, shedding N157 billion.

The market capitalisation of listed equities declined by 0.44 per cent to N35.415 trillion from N35.572 trillion reported the previous day.

The NGX All Share Index also depreciated by 289.00 basis points to 65036.37 points from 65325.37 points reported on Friday.

An analysis of the Investment showed that Cornerstones Insurance led gainers table with 9.32 per cent to close at N1.29 per unit, Omatek followed with a gain of 8.82 per cent to close at N0.37 per share, TIP gained 8.51 per cent to close at N1.02, Chams Plc added 7.37 per cent to close at N1.02 per unit, RTBriscoe grew by 6.98 per cent to close at N0.46 per unit.

On the contrary Eterna Plc topped losers chart, dropping 9.90 per cent to close at N17.75 per unit, SUNU Assurance trailed with a loss of 9.57 per cent to close at N1.04 per share, UPL declined 9.24 per cent to close at N2.26 per share, FTNCocoa down by 8.44 per cent to close at N2.06 per share while Okomu Oil dipped by 5.66 per cent to close at N250.00.

The volume of trades declined by 230.649 million representing 47.10 per cent as investors traded 259.041 million shares valued at N4.204 billion in 5899 deals against 489.690 million shares worth N8.362 billion exchanged hands the previous day in 5804 deals.

Transnational Corporation of Nigeria led market activities with 41.760 million shares valued at N167.930 million, AccessCorp followed with an account of 18.155 million shares cost N312.692 million, GTCO Plc traded 15.566 million shares cost N585.099 million, Sterling Bank exchanged 14.186 million shares cost N50.996 million and United Bank for Africa traded 13.009 million shares cost N185.375 million.

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TAGGED:bearish startDeclineequity marketfinancial marketsmarket analysisMarket Performancestock market trendsstock pricesTradingweek opening
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