Equities shed N17 billion on worsening investor sentiment

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Equities shed N17 billion on worsening investor sentiment



The Nigerian stock market sank lower by 0.08 per cent or N17 billion on Monday, bringing the loss already incurred by investors in February to N1.178 trillion, concerns how soon the market will regain a steady rebound.
Losses by WAPCO and United Capital had the biggest impact on the depreciation of equities as the pressure to sell stocks continued to outweigh the wish to own them.
The Industrial Goods Index slipped by 0.55 per cent to 1,897.62 index points, declining the most among the five sectorial indices.
Market breadth was negative with 24 losers emerging against 21 gainers.
The All Share Index (ASI) closed at 40,154.09 index points while market capitalisation eased to N21.009 trillion.
Year to date, the index is down by 0.29%.
TOP FIVE GAINERS
UPDC REIT led gainers, appreciating by 9.35% to close at N5.85. Consolidated Hallmark Insurance added 9.09% to end today’s trade at N0.36. Academy advanced by 8.57% to N0.38. Cornerstone rose to N0.69, notching up 7.81% in the process. University Press completed the top 5, climbing up by 7.50% to N1.29.
TOP FIVE LOSERS
Africa Prudential topped the losers’ chart today, diving by 9.59% to close at N6.6. Lasaco shed 9.52% to end today’s trade at N1.52. Niger Insurance fell to N0.21, losing 8.70%. WAPCO slumped to N23, recording 8% depreciation. Red Star Express closed at N3.12, going down by 7.42%.
TOP FIVE TRADES
289.338 million shares valued at N3.574 billion were traded today in 4,953 deals.
FBN Holdings was the most active stock with 57.556 million of its stocks worth N419.713 million traded in 182 deals. 27.444 million units of United Capital’s shares priced at N167.340 million exchanged hands in 466 transactions. GTB had 26.847 million shares valued at N820.545 million traded in 370 deals. UBA traded 25.197 million shares estimated at N210.950 million in 241 transactions. Zenith traded 21.749 million shares valued at N540.277 million in 424 deals.

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