Stock market posts losses, capitalisation down by N20 billion
Bearish sentiment resurfaced at the Nigerian stock market on Monday, following sell-off in some bank stocks such as Fidelity, Sterling, Access, FBN Holdings among others.
Specifically, the market capitalisation lost N20.6 billion or 0.07 per cent to close at N27.921 trillion from N27. 941 trillion on Friday.
Also, the All-Share Index (ASI) declined by 38.22 points or 0.07 per cent to close at 57,791 against 51,829 the same day.
Accordingly, the year-to-date returns increased to 21.24 per cent. Overall, the market was negative with 17 losers, relative to 18 gainers.
Fidson Pharmaceutical drove the gainers’ chart in percentage terms by 9.82 per cent to close at N12.30 per share.
Learn Africa followed with a gain 9.79 per cent to close at N2.47, while UPDC rose by 9.71 per cent to close at N1.13 per share.
Prestige Insurance went up by 8.33 per cent to close at 39k, while Regent Alliance Insurance appreciated by 7.69 per cent to close at 28k per share.
On the other hand, Conoil led the losers’ chart in percentage terms by 9.9 per cent to close at N25.95 per share.
Redstar Express and RT Briscoe followed with 9.09 per cent each to close at N2.50 and 40k per share.
Cutix shed 7.69 per cent to close at N2.28 per share, while Unity Bank lost 6.67 per cent to close at 42k per share.
Also, the total volume traded increased to 194.122 million units valued at N2.82 billion and exchanged in 4,899 deals.
Transactions in the shares of Transcorp topped the activity chart with 25.07 million shares valued at N31.77 million.
Guaranty Trust Holding Company (GTCO) followed with 20.18 million shares worth N413.02 million, while United Bank for Africa (UBA) traded 15.59 million shares valued at N131.22 million.
AIICO traded 13.61 million shares valued at N8.32 million, while First Bank of Nigeria (FBNH) transacted 11.63 million shares worth N131.92 million.
Analyst at GTI Securities said, “Equity market closed transaction for today negative, as bargain hunting resumes. We expect cautious trading to continue in the week.”
(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
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.”
Economy
Nigerian children facing hunger rose to 16 million in Tinubu’s first year as president: Report
Violent killings and kidnappings in the country’s north have affected food production, disrupted local markets, causing farmers to flee their farms.
Rights
Dangerous UK-Rwanda asylum law erodes refugees’ protection: UN
If implemented, it would pave the way for asylum seekers, including families with children, to be summarily sent to Rwanda, with no prospect of return to the UK.
States
Man, 35, arraigned for vandalism, stealing of NAN property in Anambra
The defendant pleaded not guilty to the charge.
Education
JAMB to refund registration fees of deserving visually-impaired UTME candidates
The don said physically-challenged candidates for the UTME were checked into hotels alongside their guides.
NationWide
NDDC has many untold success stories, says MD
Mr Ogbuku said the commission took care of the needs of the people in the region based on their needs assessment.
Health
Malaria, public health concern in Zambia: Health minister
“Every day, 30,400 of our people get infected with malaria.’’
