Stock market loses N107bn

The equities market opened the week on a negative note on Monday as indices dipped by 0.07 per cent due to profit-taking in medium and large-capitalised stocks.

This marked the 5th consecutive session of bearish rally.

Market capitalisation fell by N107 billion, or 0.07 per cent, closing at N156,517 trillion, compared with N156,623 trillion recorded on Friday.

Also, the All-Share Index lost by 164.55 points, or 0.07 per cent, settling at 242,454.65.

As a result, the year-to-date return declined to 55.81 per cent as the market breadth closed negative, with 36 losers against 19 gainers.

RT Briscoe led the losers’ table by 9.91 per cent, settling at N10.45, Fortis Global Insurance trailed by 9.89 per cent, finishing at N2.37 while Mc Nicholas dropped by 9.62 per cent, ending the session at N4 70 per share.

University Press declined by 9.35 per cent, finishing at N4.85 and Nem Insurance shed by 8.83 per cent, closing at N30.45 per share.

Conversely, Trans-Nationwide Express led the gainers’ table by 9.86 per cent, ending the session at N3.12, AVA Capital followed by 9.72 per cent, closing at N7.90 while Thomas Wyatt Nigeria climbed by 9 09 per cent, settling at N3 per share.

Similarly, Legend Internet grew by 8.75 per cent, finishing at N4.35 and Dangote Sugar advanced by 8.60 per cent, closing at N70.10 per share.

Market activity weakened during the session, with total volume of trades declining by 5.89 per cent to 1.33 billion shares, valued at N22.93 billion, exchanged in 45,494 transactions.

Lasaco Assurance led the volume chart with 730.69 million shares traded, accounting for 54.93 per cent of the day’s total volume.

Meanwhile, MTNN recorded the highest value of transactions at N7.30 billion, representing 31.83 per cent of the total value traded.
NAN