NGX-ASI down by 0.54% as week opens

Nigeria’s equities market opened the week on a negative note, decreasing by 0.54 percent as Aradel Holdings, a major laggard continued its southward movement.

The stock decreased by N44.50 or 9.99 percent, from preceding day’s N445.60 to N401.10. Also, Oando another major decliner on Monday dropped from N89.65 to N80.70, losing N8.95 or 9.98percent, while Carverton which also joined the league of major losers on the Lagos Bourse decreased from N2 to N1.80, losing 20kobo or 10percent.

FTN Cocoa moved down from N1.92 to N1.73, shedding 19kobo or 9.90 percent, while Veritas Kapital Assurance dropped from a high of N1.42 to N1.28, losing 14kobo or 9.86percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated from preceding trading day’s highs of 97,432.02 points and N59.039 trillion respectively to 96,907.73 points and N58.720 trillion.

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The stock market’s return year-to-date (YtD) decreased to 29.60 percent. This month, the market has decreased by 0.76 percent.

Shares of UBA rallied most from by N2.90 or 10 percent, from N29 to N31.90; while that of PZ Cussons followed from N22 to N23, adding N1 or 4.55 percent.

In 10,386 deals, investors exchanged 1,223,701,632 shares valued at N14.233billion. Consolidated Hallmark, UBA, Sterling, Sovereign Trust Insurance and Access Holdings were actively traded stocks.