Equity market returns to volatility, loses N65bn

Trading activities on the floor of the Nigerian Exchange yesterday opened on a negative note, declining by N65 billion as investors await for inflation rate and PMI for the month of April.

Capital market operators said that the release of the Consumer Price index by the National Bureau of Statistics as well as the outcome of Monetary policy this week will give direction for stock movement for the rest of the month.

Specifically, the Market Capitalisation of listed equities declined by 0.32 per cent to N20.487 trillion from N20.552 trillion recorded at the close of the transaction on Friday.

The NSE All-Share Index also depreciated by 125.10 basis points to 39308.47 points from 39431.57 points reported the previous day.

Investors traded 357.693 million shares valued at N3.564 billion in 4394 deals against 13.050 million shares valued at N177.843 million exchanged hands in 746 deals.

A review of the investment during the day showed that Eterna Plc led gainers table during the day, increasing by 9.85 per cent to N7.25 kobo, Royalex followed with a gain of 9.21 per cent to N0.83 kobo, Capital Hotel gained 9.09 per cent to N2.40 kobo, Regal Insurance increased by 8.82 per cent to N0.37 kobo, ABC Transport added 8.11 per cent to N0.40 kobo.

On the contrary, Enemelwa Wire recorded the highest loss during the day. Shedding 9.80 per cent to N17.95 kobo, Africa Prudential trailed with a loss of 6.92 per cent to N6.05 kobo, NPF Micro Finance Bank fell by 6.42 per cent to N1.75 kobo, Wema Bank PLC sheds 5.17 per cent to N0.56 kobo while Mansard Insurance declined by 3.30 per cent to N0.88 per cent.

Source: Blueprint