The equities market witnessed a weak bargain on Monday as investors stayed cautious ahead of the Monetary Policy Committee meeting.
Analysts had said on Friday that they expected investors to adopt a cautious position ahead of the meeting scheduled to take place from Tuesday (today) to Wednesday.
“We expect trading will be cautious at week open ahead of Tuesday’s Monetary Policy Committee meeting,” analysts at Vetiva Capital Management Limited had said.
At the close of trading, the Nigerian Stock Exchange All-Share Index fell by 0.67 per cent to close at 41,471.28 basis points, down from 41,751.55 basis points.
Similarly, the market capitalisation of the listed equities fell by N79bn from N13.365tn to close at N13.289tn.
The banking sub-sector sustained its lead on the activity chart, accounting for 21.54 per cent of total turnover traded.
Volume in the sub-sector was driven by trading in the shares of Guaranty Trust Bank Plc and Zenith Bank Plc. United Bank for Africa Plc and Unity Bank Plc also recorded high volume turnover in the sub-sector.
A total of 35 stocks recorded price appreciation on Monday, while 29 stocks recorded price depreciation.
Trans-nationwide Express Plc led on the gainers’ table, rising by 9.84 per cent or 12 kobo to close at N1.34 per share.
Royal Express Plc and IHS Plc followed with a gain of 9.52 per cent and five per cent to close at 69 kobo and N3.15 per share respectively, while Beta Glass Plc and University Press Plc rose by 4.99 per cent and 4.88 per cent to close at N16.83 and N4.51 per share in that order.
On the other hand, C&I Leasing Plc led the losers, shedding 7.27 per cent or four kobo to close at 51 kobo per share.
Vono Products Plc fell by 4.85 per cent or eight kobo to close at N1.57 per share, while UTC Plc dropped 4.48 per cent or three kobo to close at 64 kobo per share.
Also, Japaul Oil and Maritime Services Plc lost 4.41 per cent or three kobo to close at 68 kobo per share, followed by IPWA Plc, which shed 4.29 per cent or three kobo to close at 67 kobo per share, while Fidson Healthcare Plc declined by 3.93 per cent or 11 kobo to close at N2.69 per share.
In all, investors exchanged 308.713 million shares valued at N4.529bn in 5,530 deals on Monday.
Source: Punch (by Simon Ejembi)