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The Nigerian stock market, which entered a 7-hour trading session on Monday, opened lower, falling by N1.365 trillion as investors engaged in profit-taking activities on some mid- and large-cap stocks
This resulting
The market capitalization of listed stocks declined by 0.94% to N143.967 trillion from N145.334 trillion reported on Friday.
The NGX All Share index also depreciated by 2,120.20 basis points, settling at 223,602.29 points compared to the 225,722.43 points of the previous day’s close.
The negative performance recorded during the day was led by losses in shares of Fidelity Bank, FirstHoldco,.UBA, Access Bank, Zenith Bank, GTCO Plc, MTN Nigeria, among others.
The market’s performance was negative, with 40 losses against 35 gains, bringing the year-to-date return to 43.69%.
An analysis of the investment showed that Abbey Building Society led the earnings chart with 9.26% to close at N5.90 per unit, Zichis followed with a gain of 8.91% to close at N16.99 per unit, Wema Bank added 8.80% to close at N34.00 per unit, NPF Micro Finance Bank rose 8.18% to close at N5.68 per unit. While Wapic Insurance rose by NPF 7.26% to close at N2.66 per share.
In contrast, TransExpress, UBA and FirstHoldco topped the 10% losers table to close at N7.11, N49.50 and N67.50 per share respectively. Access Holdings Company followed with 9.90% to close at N28.20 per share. Fidelity Bank fell 9.87% to close at N20.10 per share.
Trading volume decreased by 23.386 million, or 3.57%, as investors traded 605.230 million shares versus 627.616 million the previous day. The value of transactions fell by 19.37% to stand at N35.888 billion across 77290 transactions.
Trading in Zenith Bank shares led the market activities with 63.318 million shares worth N8.025 billion, Wema Bank followed with an account of 44.127 million shares worth N1.484 billion, Access Holdings Company traded 38.144 million shares at a cost of N1.075 billion, Tantalizer traded 29.942 million shares worth N118.897 million while VFD Group traded 26,739 million shares worth N277,597 million.
