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Stock Market Opens Week In Red As Index Falls By 0.08%

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By Modupe Gbadeyanka

The Nigerian equities market started the week in the red with the market indicators depreciating by 0.08 percent at the close of activities on Monday.

Though the volume of stocks traded today was way more than that recorded last Friday, but the market still closed in red.

Last Friday, investors exchanged 70.9 million shares worth N656.019 million in 1,973 deals, however on Monday (today), the stock market sold 101.2 million shares valued at N1.06 billion in 2,256 deals.

The market capital lost N7.51 billion to finish at N9.47 trillion while the all-share index fell by 0.08 percent or 21.87 points to finish at 27,574.95 points.

Mobil led the losers’ chart on Monday after depreciating by N4.46k to close at N185.54k per share, while Cadbury shed N1.25k to end at N11.88k per share.

PZ lost 83k to close at N16.65k per share, Union Bank dipped by 25k to end at N4.50k per share and ETI went down by 17k to finish at N9.96k per share.

Financial services’ stocks were the most traded today with Zenith Bank, GTBank, Access Bank, UBA and FCMB all leading the five most traded stocks at the close of activities on Monday.

Investors staked N311.9 million in 20.79 million Zenith Bank shares, while 9.5 million shares of GTBank went for N230.6 million. Access Bank sold 7.85 million shares for N44.3 million, while UBA sold 7.69 million stocks valued at N32.5 million and a total of 7.4 million shares of FCMB        raked N8.31 million.

Guinness topped the gainers’ chart with a gain of 50k to close at N80.50k per share, Nigerian Breweries also went up by 50k to end at N145.5               0k per share, while WAPCO appreciated by 49k to finish at N43.50k per share.

Zenith Bank pushed up by 25k to close at N15 per share and Vita Foam gained 6k to end at N2.64k per share.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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