Equities Market Opens Week On Negative Note, Sheds 0.15%

Nigeria’s equities market opened this week on a negative note, shedding 0.15 per cent at the close of trading on Monday, November 20 as investors cashed out some gains in some stocks that had rallied since the time of purchase.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its market capitalisation decreased from week-open highs of 71,112.99 points and N39.107trillion respectively to 71,008.7 points and N39.050trillion. This year’s return has decreased to 38.55 per cent.

33 stocks advanced and 15 stocks declined, while 66 stocks remained unchanged. MULTIVERSE topped the gainers’ list with +9.92%, while RTBRISCOE declined by -9.84% to lead the losers’ chart.

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Mecure Industries Plc led other gainers with 9.95% growth to close at N6.30 from its previous price of N5.73. Multiverse Mining and Exploration, ABC Transport and C&I Leasing Plc amongst other gainers also grew their share prices by 9.92%, 9.88% and 9.84% respectively.

R.T. Briscoe Plc led other price decliners as it shed 9.84% off its share price to close at N0.55 from its previous close of N0.61. It was followed closely by Prestige Assurance, Stanbic IBTC Holding and Computer Warehouse (CWG) Plc amongst other losers who also shed their share prices by 9.09%, 7.08% and 3.14% respectively.

In terms of volume, ACCESSCORP recorded the highest volume trading about 27.583 million units of its shares in 284 deals, valued at N474.629 on followed by AIICO Insurance Plc trading about 21.931 million units of its shares in 92 deals, valued at N16.650m and Universal Insurance Plc trading about 21.733 million units of its shares in 24 deals, valued at N5.224m

According to the value chart, ZENITHBANK topped with N502,948,214.75m in 421 deals followed by ACCESSCORP with N474,629,268.70m in 284 deals and GEREGU raking in N424,084,402.00m in 28 deals.