The domestic bourse opened the week on a negative note as the All-Share Index declined by 0.24 per cent to close at 67,037.93 basis points.
At the Nigerian Exchange Limited (NGX) on Monday, sell-offs in Stanbic IBTC Holdings, Lafarge Africa, and Union Bank of Nigeria drove the market’s weak performance, having dipped in share value by 10.0 per cent, 1.02 per cent, and 2.16 per cent, respectively.
Accordingly, the Month-to-Date and Year-to-Date returns moderated to +1.0 per cent and +30.8 per cent, respectively.
Equities investors, therefore, lost N89.42 billion as the market capitalization settled at N36.83 trillion at the end of trading activities on Monday.
As measured by market breadth, market sentiment was negative, as 22 tickers lost relative to 19 gainers. On the performance board, Sovereign Insurance and Stanbic IBTC Holdings topped the losers’ list after losing 10.0 per cent from their respective share prices, while Royal Exchange and Consolidated Hallmark Insurance recorded the highest gains of the day, having appreciated in share value by 8.5 per cent and 7.0 per cent, respectively.
Performance across the sectors was mixed, as the Insurance, Oil & Gas, and Industrial Goods indices printed losses with a 0.4 per cent, 0.3 per cent, and 0.1 per cent respective decline in the value of the indices, while the Banking and Consumer Goods indices recorded gains by 0.9 per cent and 0.4 per cent, respectively.
At the local bourse, activities were tepid, as an analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 14.73 per cent.
A total of 216.07 million shares valued at N3.55 billion were exchanged in 5,965 deals.
United Bank for Africa led the volume and value charts with 32.62 million units traded in deals worth N579.35 million.
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