The Nigerian stock market begin the new week on a negative note, sustaining its losing streak for the third consecutive session as the benchmark index lost 0.07 per cent to close at 47,251.93 basis points.
Notably, profit-taking activities witnessed in United Bank for Africa, on Monday, impacted the 0.07 per cent decline in the All Share Index (ASI) as the banking stock shed 1.3 per cent from its value. Thus, the All-Share Index closed at 47,251.93 points.
Accordingly, the Month-to-Date and Year-to-Date return moderated to -0.3 per cent and +10.6 per cent, respectively.
Therefore, equities investors at the Nigerian Exchange Limited (NGX) lost N16.56 billion from their investment as the market capitalisation shed settled at N25.47 trillion.
Market breadth also closed negative with declining stocks outnumbering advancing ones. On the performance chart, RTBriscoe stocks led 21 others on the losers’ table having declined by 10.9 per cent, while Guinness Nigeria topped 14 others on the gainers’ list after appreciating its stock value by 10.00 per cent.
On sectors, the Banking and Insurance indices printed losses by 0.9 per cent and 0.7 per cent respectively, while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods index was the sole gainer of the day by 0.5 per cent.
Analysis of the day’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 30.17 per cent. A total of 213.57 million shares valued at N2.68 billion were exchanged in 4,485 deals.
Access Bank led the volume chart with 27.19 million units traded, while Zenith Bank led the value chart in deals worth N534.68 million.
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