Nigeria equity market opens week with 0.47% loss

The market indices of the Nigerian Stock Exchange (NSE) resumed trading for the week on Monday on a bearish note following loses posted by some highly capitalised equities.
Nigerian Breweries recorded the highest price loss of N2.55 to lead the losers’ pack having closed at N122.45 per share.
Oando and Dangote Sugar trailed with a loss of 28k each to close at N5.62 and N6.14 per share.
Ecobank Transnational Incorporated lost 24k to close at N8.21, while UACN dipped 20k to close at N14.80 per share.
Consequently, the All-Share Index lost 120.15 points or 0.47 per cent to close at 25,626.37 compared with 25,746.52 achieved on Friday.
Also, the market capitalisation which opened trading at N8.908 trillion shed N41 billion or 0.46 per cent to close at N8.867 trillion.
On the other hand, Total topped the gainers’ table with a gain of N10.65 to close at N270 per share.
It was followed by Fidelity Bank which announced a dividend of 14k for 2016 financial year with 8k to close at 92k while UCAP gained 7k to close at N2.95 per share.
NAHCO improved by 4k to close at N2.49 and Custodian and Allied Insurance rose by 3k to close at N3.25 per share.
A total of 191.84 million shares worth N 584. 72 million were exchanged by investors in 2,626 deals against 107.94 million shares valued at N907.73 million traded in 2,405 deals on Friday.
Staco Insurance was the toast of investors, accounting for 100 million shares worth N50 million.
Dangote Sugar came second with 13.99 million shares valued at N86. 91 million and FCMB Group sold 8.77 million shares worth N10.22 million.
FBN Holdings accounted for 8.53 million shares valued at N26. 89 million, while C & I Leasing sold 8.07 million shares worth N4.64 million.