The Nigerian equities market, NGX, opened the week on a negative note on Monday, extending its bearish run to a fifth consecutive session as profit-taking in medium- and large-capitalized stocks dragged the benchmark indices lower by 0.07 per cent.
The decline wiped N107 billion off the market capitalization, which fell to N156.517 trillion from N156.623 trillion on Friday, while the All-Share Index dropped by 164.55 points to close at 242,454.65. The market’s year-to-date return also eased to 55.81 per cent as 36 stocks recorded losses against 19 gainers.
RT Briscoe led the decliners, shedding 9.91 per cent to close at N10.45 per share. Fortis Global Insurance followed with a 9.89 per cent decline to N2.37, while McNicholas dropped 9.62 per cent to N4.70.
University Press fell by 9.35 per cent to N4.85, while NEM Insurance declined by 8.83 per cent to N30.45 per share.
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On the gainers’ side, Trans-Nationwide Express led with a 9.86 per cent increase to N3.12 per share. AVA Capital gained 9.72 per cent to close at N7.90, while Thomas Wyatt Nigeria rose by 9.09 per cent to N3.
Legend Internet advanced by 8.75 per cent to N4.35, while Dangote Sugar gained 8.60 per cent to close at N70.10 per share.
Market activity also weakened during the session, with total trading volume declining by 5.89 per cent to 1.33 billion shares. The shares were exchanged in 45,494 deals valued at N22.93 billion.
Lasaco Assurance dominated trading volume with 730.69 million shares, representing 54.93 per cent of the total volume traded during the session.
Meanwhile, MTN Nigeria Communications recorded the highest value of transactions at N7.30 billion, accounting for 31.83 per cent of the total value traded.
NAN
