Opening the week, the Nigeria equities extended losses as the overall market capitalisation closed N140 billion weaker on losses in Nestle Nigeria Plc and 20 others.
The All-Share Index declined by 254.63 points, representing a loss of 0.34 per cent, to close at 73,768.64 points. Similarly, the overall market capitalisation value lost N140 billion to close at N40.367 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Nestle Nigeria, Okomu Oil, Dangote Cement, Stanbic IBTC Holdings and UAC of Nigeria (UACN).
However, market breadth closed positive, as 40 stocks gained relative to 21 decliners. Eterna recorded the highest price gain of 10 per cent to close at N13.20, per share. AXA Mansard Insurance followed with a gain of 9.96 per cent to close at N5.19, while Multiverse Mining & Exploration up by 9.95 per cent to close at N15.36, per share.
Infinity Trust Mortgage Bank appreciated by 9.93 per cent to close at N4.98 and N14.60 respectively, while Industrial and Medical Gas Nigeria (IMG) rose by 9.85 per cent to close at N11.15, per share.
On the other hand, UACN led the losers’ chart by 10 per cent to close at N13.50, per share. DEAP Capital Management & Trust followed with a decline of 7.25 per cent to close at 64 kobo, while Caverton Offshore Support Group lost 6.59 per cent to close at N1.70, per share.
Royal Exchange lost 6.25 per cent to close at 60 kobo, while Tantalizers depreciated by 6.12 per cent to close at 46 kobo, per share.
The total volume traded increased by 2.27 per cent to 432.914 million units, valued at N12.938 billion, and exchanged in 8,901 deals. Transactions in the shares of Jaiz Bank topped the activity chart with 35.382 million shares valued at N58.742 million.
Transnational Corporations (Transcorp) followed with 31.089 million shares worth N279.125 million, while Unity Bank traded 25.117 million shares valued at N40.495 million.
Guaranty Trust Holding Company (GTCO) traded 20.466 million shares valued at N819.270 million, while United Capital transacted 18.767 million shares worth N466.506 million.
