The gaining steak at the Nigerian Stock Market, on Monday, December 19 came to an end as market value declined as investors embarked on profit taking across board.
To this end, investors lost a staggering N41.5 billion, as market capitalisation tumbled to N9.148 trillion from N9.189 trillion recorded last Friday.
The day’s abysmal performance was largely driven by decline recorded across all sectoral indices, however the NSE Banking, Oil and Gas Index recorded the biggest decline.
The Banking index decreased 1.05 percent on account of depreciation in ETI, FCMB, Diamond, Wema, Fidelity, FBN, Access and Guaranty Bank, while the Oil and Gas Index also continued to suffer losses from previous sessions as it closed 3.64 percent down on the back of profit taking in Forte Oil, MRS, and Seplat.
Market breadth remained negative from Friday’s session with 16 gainers to 27 losers, with Forte Oil topping the day’s losing chart with a loss of 9.75 percent, while Guinness led the day’s gainers with 9.54 percent to close at N85 per share.
Nascon Allied Industries was the most active stock with 73.6 million shares valued at N531.1 million. UBA followed with 58.9 million shares worth N263.5 million while Diamond Bank came third with 32.1 million shares worth N27.7 million.
Volume and value of trade on the bourse depreciated by 70 percent and 60 percent each to settle at N262.9 million units and N1.75 billion respectively from N874.33 million units and N4.39 billion recorded in previous session respectively.
