Equities Market Shed N32billion As Highly-capitalised Stocks Crash

The Nigerian Equity Market ,sustained the downward trend as the new trading week opened, on Monday, November 7, leaving stock market indices with a loss of 0.35%.

The market capitalisation of the bourse depreciated by N32 billion to close at N9.255 trillion following the value depreciation recorded in some highly capitalised stocks, such as, Guaranty Trust Bank, Unilever Nigeria, Access Bank and Zenith Bank. Also, the All Share Index dropped 94.06 points, representing a plunge of 0.35 percent to close at 26,887.54

Market breadth remained negative, with 10 gainers paired against 18 losers. Cement Company of Northern Nigeria (CCNN) topped the decliners’ chart dropping 5.54 percent, to close at N4.94 per share. While Eterna Oil recorded the highest price gain of 9.90 percent, to close at N3.22 per share.

Transactions in the shares of UBA topped the activity chart with 21.49 million shares valued at N91.71 million. Guaranty Trust Bank followed with 17.75 million shares worth N393.25 million, while Zenith Bank traded 11.72 million shares valued at N173.49 million.

FBN Holdings traded 10.53 million shares worth N31.92 million, while FCMB sold 9.70 million shared valued N10.63 million.

Market activity as measured by total volume traded surged marginally by 2.24 percent to 115.04 million shares, valued at N1.16 billion, and traded in 2,963 deals.

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