By Munachimso Obienyi
Proceedings on the floor of the Nigerian Exchange Limited (NGX) resumed the trading week on a negative note as investors’ wealth dipped by N78 billion amid profit taking in high capitalized stocks.
The NGX All-Share Index had depreciated by 0.01 per cent to close at 49,024.16 points while market capitalization closed at N26.451 trillion last week, but due to the Public holiday declared by the Federal Government to commemorate the Independence Day Celebrations, trading resumed at Customs street.
At the close of business, the index closed in the red, 0.29 percent lower to close at 48,879.74 points while market capitalization decreased by N78 billion to close at N26.373 trillion.
Depreciation in the shares of International Breweries, AccessCorp, Transcorp, UBA, Zenith Bank led to the decline recorded in the market. Also, the volume of stocks stood at 173.46 million shares valued at N2.39 billion.
Investors’ appetite for stocks waned as 21 stocks depreciated in value while 9 others appreciated. International Breweries led the laggards with 9.09 per cent to close at N4.50 per share, Redstarex followed with a 7.83 per cent to close at N2.12, Sovereign Insurance fell by 7.41 per cent to close at 0.25 kobo, Japaul Gold dropped 7.14 per cent to close at 0.26 kobo while Chip Plc lost 7.02 per cent to close at 0.53 kobo.
On the other hand, Multiverse led the gainers’ chart with 9.76 per cent to close at N4.05 per share. RT Briscoe was next with 8.82 per cent to close at 0.37 kobo, NGX Group gained 7.50 per cent to close at N21.50, AIICO increased by 5.77 per cent to close at 0.55 kobo while Africa Prudential garnered 4 per cent to close at N5.20.
