Profit-taking wipes N1 trillion off Nigerian equities market as PZ Cussons, BUA Cement lead losers’ chart
The Nigerian equities market opened the week on a negative note on Monday, with investors losing N1.315 trillion as profit-taking in large- and mid-capitalised stocks dragged prices lower.
As a result, the market capitalisation declined by 0.84 per cent, falling from N156.444 trillion at the start of trading to N155.129 trillion at the close.
The All-Share Index dropped by 2,049.65 points, or 0.84 per cent, to settle at 241,749.11, down from 243,798.76 in the previous session.
This led to the market’s year-to-date return easing slightly to 55.35 per cent, while market breadth closed negative, with 46 losers against 19 gainers.
PZ Cussons led the losers’ chart by 10 per cent, closing at N81. BUA Cement trailed by 9.99 per cent, finishing at N306.20, while Red Star Express dipped by 9.98 per cent, settling at N22.10 per share. RT Briscoe shed by 9.70 per cent, ending the session at N12.10, and Ci Leasing dropped by 9.38 per cent, closing at N5.80 per share.
Nigeria Infrastructure Debt Fund led the gainers’ chart with a 9.97 per cent gain, ending the session at N163.30. International Breweries followed by 9.77 per cent, finishing at N14.60, while Nigerian Aviation Handling Company gained by 8.36 per cent, closing at N177 per share.
Also, UAC of Nigeria grew by 8.11 per cent, settling at N199.95 per share, and Daar Communication rose by 6.67 per cent, finishing at N1.76 per share.
Market activity strengthened during the session, as total volume traded advanced by 18.66 per cent to 523.54 million, valued at N22.28 billion across 59,945 transactions.
Meanwhile, FCMB recorded the highest volume, with 102.24 million shares traded, accounting for 19.53 per cent of the day’s volume.
Seplat recorded the highest value at N3.62 billion, accounting for 16.23 per cent of the day’s trading.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
2027: Politics must not undermine Nigeria’s national unity, APC chairman Yilwatda says
“I urge Nigerians to see our diversity not as a weakness, but as a source of strength. As we approach another electoral season, we must reject division and violence,” he said.
World
Ukraine embassy marks 35th independence anniversary, reaffirms struggle for freedom
Mr Kholostenko described it as a day that embodied the Ukrainian people’s enduring struggle for freedom, statehood and the right to determine their own future.
States
Police arrest two suspected kidnappers in Ondo
Police arrested two suspected kidnappers in connection with the abduction of a man, Abubakar Abdullahim, in Ondo State.
States
Security forces kill six suspected secessionists in Anambra
The Commissioner of Police in Anambra, Nnanna Ama, said a joint security team comprising the army, navy, police, SSS, and local vigilantes conducted the operation.
Heading 5
People exploiting actor Taiwo ‘Ogogo’ Hassan’s illness to make money, daughter alleges
Ms Taiwo said some Nigerians are exploiting her father’s ailment to make money.
States
2027: Loyalty to Tinubu, APC non-negotiable, says Ondo reconciliation committee
Dele Olanubi, the committee secretary, said members who left the APC to contest elective offices on other parties’ platforms had forfeited their membership.
