NGX Sheds N7bn on First Trading Day, Halts Market 

The Nigerian Exchange Limited on the first trading day of the week shed seven billion naira, bringing to a halt a six-day of rally in the market.

NGX All-Share Index depreciated by 0.03 per cent to settle at 55,806.71 while the market cap dropped to N30.387tn, representing a 0.02 per cent drop. The year-to-date returns also slowed to 8.89 per cent on Monday from 8.92 per cent on Friday.

Geregu Power led both the value and volume charts at the end of trading as 52,491,100 units of its shares worth N16.365bn were traded. Followed by Zenith Bank which traded N800.619m worth of shares while Access Holdings traded N 573.551m worth of shares.

A total of 369,779,627 million units of shares valued at N 19.841bn were traded on the floor of the NGX in 7,221 deals. Performance for most sub-sectors was bullish as four of the five sectoral boards closed positive. They include the NGX Banking, NGX Insurance, NGX Consumer Goods, and the NGX Oil/Gas indices which advanced by 0.27 per cent, 1.31 per cent, 0.06 per cent, and 2.55 per cent respectively. However, the NGX Industrial Index moderated by 0.01 per cent.

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On the gainers’ table were Omatek and NEM with a 10 per cent appreciation in their share prices to close at N0.22 and N5.50 respectively. Conoil and MRS Oil shares appreciated by 9.94 per cent to close at N76.85 and N54.20, while Eterna gained 9.73 per cent to close trading at N10.15.

The top five decliners on Monday include John Holt with a 9.95 per cent depreciation in its share value to close at N1.72, Courtville lost 9.80 per cent to close at N0.46, Chams lost 9.76 per cent to close at N0.37, Wapic lost 8.70 per cent to close at N0.42 and Academy suffering 7.89 per cent in its share value to close trading at N1.75.