Investors lost N1.811 trillion on Monday as widespread profit-taking in major equities dragged the stock market into negative territory on the first trading day of June.
There were selloffs in heavyweight and mid-cap stocks such as BUA Cement, CAP, E-Tranzact International, International Breweries, Deap Capital Management and 20 others.
The revised framework raised equity allocations across RSA funds and boosted institutional participation.
Market analysts said, “Sustained demand in fundamentally strong stocks continues to drive the upward trend.”
The commissioner of police in Edo, Monday Agbonika, has vowed to hunt down and bring to justice those behind the killing of eight NSCDC operatives.
Transactions in the shares of First City Monument Bank topped the activity chart with 277.21 million shares worth N2.84 billion.
A total of 1.19 billion shares worth N42.76 billion were exchanged across 37,418 transactions.
The market breadth also closed negative, with 32 stocks declining and 28 advancing.
BUA managing director Yusuf Binji led the presentation of the items to traditional rulers from the communities on Wednesday in Sokoto.
The company also announced an increase in net revenue of N460 billion during the period, up from N361 billion in 2022.
