Nigerian equities market extended its bearish run on Monday, opening the week with investors’ wealth declining by N81 billion.
The News Agency of Nigeria NAN reports that the bearish sentiment persisted.
Selloffs in NCR Nigeria, Zichis Agro Allied Industries, Industrial and Medical Gases, Sovereign Trust Insurance and Daar Communications plus 31 equities dragged market into negative territory.
Market capitalisation declined by 0.05 per cent, or N81 billion, from N160.443 trillion to N160.362 trillion.
Similarly, the All-Share Index fell from 250,330.92 to 250,204.83, shedding 126.09 points or 0.05 per cent.
Year-to-Date return decreased to 60.79 per cent while market breadth closed negative with 36 losers and 33 gainers.
NCR Nigeria and Zichis Agro Allied Industries led the losers’ chart by 9.99 per cent each, settling at N161.20 and N26.49 per share, respectively.
Industrial and Medical Gases declined 9.93 per cent to N38.10, while Sovereign Trust Insurance dipped 9.86 per cent to N2.65.
Daar Communications shed 9.78 per cent, settling at N2.03 per share.
Oando and University Press led gainers chart by 10 per cent each, closing at N51.70 and N5.50 per share, respectively.
Deap Capital Management gained 9.96 per cent, May and Baker rose 9.94 per cent, Trans-Nationwide Express up 9.92 per cent, finishing at N5.96, N52, N7.76.
Market activity declined at close of trading, with total volume traded dropping 26.16 per cent to 800.46 million shares valued at N37.05 billion across 87,096 deals.
United Bank for Africa recorded highest trading volume with 64.97 million shares, accounting for 8.12 per cent of day’s total volume.
Aradel Holdings posted highest trade value at N6.15 billion, representing 16.60 per cent of total value traded for the day.
