Business Headline News Nigeria

Equity market loses N38bn as share prices decline

The nation’s equities market declined by N38bn at the end of trading session on Monday as the share prices of 13 firms depreciated.

All-Share Index closed at 49,625.71 basis points from 49,695.12 on Friday, while the market capitalisation fell to N26.767t from N26.805t.

A total of 86.594 million shares valued at N1.17billion were traded by investors in 33,377 deals.

13 companies recorded price appreciation, while 13firms’ share prices dropped.

Total volume traded declined by 72.9 per cent to 86.59 million units, valued at N1.17bn, and exchanged in 3,377 deals. GTCO was the most traded stock by volume and value at 19.47 million units and N385.59m.

“Analysing the sectors, the insurance, banking  and industrial goods indices declined, while the oil & gas as well as consumer goods indices closed flat.

Market sentiment was positive (1.1x) as 13 Stock gained as against 12 losers.

Writing by Julian Osamoto; Editing by Adeniyi Bakare