The equities market opened for the week on a negative note yesterday after recording a major recovery last week. The market had gained 2.04 per cent last week, the highest weekly gain since August 23, 2019.
Specifically, the Nigerian Stock Exchange All-Share Index fell 0.60 per cent to close lower at 26,375.35, while market capitalisation shed N189.1 billion to be at N12.88 trillion. Wema Bank Plc led the price losers for the day, shedding 7.8 per cent, trailed by FCMB Group Plc with 7.5 per cent. Caverton Offshore Services Group Plc depreciated by 7.4 per cent, while Access Bank Plc and Ecobank Transnational Incorporated went down by 6.6 per cent apiece. Okomu Oil Palm Plc and Transcorp Plc lost 5.5 per cent each.
Profit before tax increased by 509 per cent from N241.3 million to N1.47billion, while net profit jumped by 672 per cent from N161.7 million to N1.25 billion.