Nigeria’s domestic stock market started trading for the new week with a drop of N92 billion on investors profit-taking activities in the shares of MTN Nigeria Communications Plc and 24 others.
The Nigerian Exchange Group Limited All-Share Index, NGX ASI, depreciated by 163.32 basis points, representing a 0.17 percent to close at 97,582.41 basis points lower than the 97,745.73 basis points recorded on Friday.
Similarly, the overall market capitalisation declined by N92 billion to close at N55.405 trillion at the end of business on Monday from N55.497 trillion it closed for trading last week.
Sectoral Performance
On sectoral performance, the NGX Consumer Goods Index and NGX Banking Index recorded gains at +0.9 percent and +0.2 percent while the NGX Industrial Goods, NGX Oil & Gas and NGX Insurance indices closed flat.
The day’s market sentiment when measured by market breadth closed negative, as 23 stocks gained relative to 25 losers.
International Breweries, Presco and Sovereign Trust Insurance emerged the highest price gainer of 10 percent each to close at N4.62k, N485.10k and N0.55k per share.
United Capital and Oando followed with a gain of 9.88 percent each to close at N13.35k and N27.80k, while Honeywell Flour Mills rose by 9.74 percent to close at N3.83k, per share.
On the flipside, Chams Holding Company led the losers’ chart with 10 percent to close at N1.98k, per share.
University Press followed with a decline of 9.92 per cent to close at N2.18k, while The Initiates Plc, TIP shed 8.26 percent to close at N2.00, per share.
Omatek Ventures declined by 8.20 percent to close at N0.56k, while Champion Breweries dipped by 7.67 percent to close at N3.01k, per share.
Volume
The total volume of trade increased by 53.63 percent to 324.02 million units, valued at N6.218 billion, and exchanged in 9,738 deals.
Transactions in the shares of Zenith Bank led the activity with 36.993 million shares worth N1.331 billion.
United Bank for Africa (UBA) followed with 34.974 million shares valued at N708.48 million, while Veritas Kapital Assurance traded 25.506 million shares valued at N23.309 million.
Oando traded 20.282 million shares worth N552.493 million, while Access Holdings traded 18.835 million shares worth N350.503 million.
