Investors Lose N112 Billion as Equities Market Declines on Monday

The Nigerian equities market opened the week in the red as the Exchange shed N112 billion on Monday.

Investors traded 774,377,516 shares worth N14.65 billion in 10,412 transactions during the trading session.

The market value of listed stocks and the all-share index rose by 0.24 percent to settle at N55.28 trillion and 96,205.85 points, respectively.

Eterna led the gainers with a 10 percent increase, closing the day at N33.00 per share. This was followed by Tantalizers, which also saw a 10 percent rise to N89.50. Oando and FTN Cocoa Processors appreciated by 9.95 percent and 9.93 percent, respectively, closing at N89.50 and N1.66.

On the other hand, Learn Africa led the losers with an 11.18 percent decline, dropping to N4.13 per share.

Julius Berger Nigeria followed, losing 10 percent to close at N153.45. Transcorp Power shed 9.99 percent to settle at N301.70, while McNichols dropped 9.4 percent to close at N1.35.

Further analysis showed that Jaiz Bank was the most traded stock in terms of volume, with investors transacting 247 million shares. Zenith Bank, FBN Holdings, and Guaranty Trust Holding followed with 173 million shares, 41.5 million shares, and 33.9 million shares, respectively.

Last week, the Exchange lost N83 billion as the All-Share Index and market capitalisation dipped by 0.15 percent due to sell-offs in big stocks.