Again, equities market opens weak, as investors lose N9.4bn

The equities market opened the week on a bearish trend on Monday as the All-Share Index lost 7bps due to sell-offs in Zenith (-0.6%), Access (-1.0%) and Oando (-0.4%), to close at 24,269.58 points.

Consequently, market capitalisation declined to N12.7tn as investors lost N9.4bn while year to date loss worsened by 9.6%.

• Investors lose N9.8bn on equities
• Equities market opens negative, as investors lose N55bn

Activity level improved as volume and value traded increased by 90.1% and 42.6% to 305.1m units and N2.1bn respectively.

The most active stocks by volume were Sovereign Insurance  (75.6m units), UBA (70.7m units) and GTbank (37.0m units) while GTbank (N795.1m), UBA (N444.9m) and Nigerian Breweries (N230.9m) led by value.

Performance across sectors was bearish as 2 of 6 indices under review closed negative.

Investor sentiment as measured by market breadth rose to 0.9x from the 0.6x recorded in the previous session as 12 stocks advanced against the 13 that declined.

The top gainers were Glaxosmith (+9.5%), Fidson (+9.4%) and Linkassure (+9.4%) while Neimeth (-10.0%), Cutix (-9.9%) and CHAMS (-4.3%) were the top decliners.