At the close of trading on Monday, the Nigerian Exchange Limited’s equity market had lost N30 billion as the share prices of 18 companies fell.
The market capitalization decreased to N26.964 trillion from N26.994 trillion as the NGX All-Share Index closed at 49,991.41 basis points on Monday as opposed to 50,045.83 on Friday.
At the close of trading on the NGX floor on Monday, investors had transacted 3,976 trades totaling 200.92 million shares worth N1.45 billion.
Twelve businesses had an increase in share prices, while 18 businesses saw share prices fall.
According to analysts at Cordros Securities “Activities in the domestic equities market resumed the week on a sour note, as investors took profits off WAPCO (-4.2 per cent), Zenith Bank (-2.3 per cent), and Stanbic (-3.0 per cent).
“Thus, the AllShare Index settled lower by 0.1 per cent at 49,991.41 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +0.3 per cent and +17.0 per cent, respectively.
“The total volume traded declined by 16.3 per cent to 200.92 million units, valued at NGN1.45 billion, and exchanged in 3,976 deals. Sterling Bank was the most traded stock by volume at 90.90 million units, while MTNN was the most traded stock by value at N252.47m.”
