Market opens week flat, as investors stakes 103.3m shares worth N2.14bn

Opening the week, Nigerian equities traded with mixed sentiments as the All-Share Index (ASI) closed flat at 44,269.43 points.

Thus, the market capitalization remained N24.11 trillion, with the Month-to-Date and Year-to-Date returns unchanged at +1.0 per cent and +3.6 per cent, respectively.

As measured by market breadth, market sentiment was negative, as 16 tickers lost relative to 11 gainers. Learn Africa and Cornerstone Insurance recorded the highest losses of the day after their share prices dipped by 9.5 per cent and 9.1 per cent, respectively; while Royal Exchange and Cutix topped the gainers’ list as their respective share value appreciated 9.7 per cent and 6.8 per cent.

Performance across sub-indices was varied, as the NGX Insurance, NGX Consumer Goods, and NGX Oil/Gas indices fell by 0.81 per cent, 0.04 per cent, and 0.74 per cent, respectively, while the NGX Banking Index and the NGX Industrial Index rose by 0.48 per cent and 0.01 per cent, respectively.

Analysis of market activities on Monday showed trade turnover settled lower relative to the previous session, with the value of transactions down by 51.63 per cent.

A total of 103.27 million shares valued at N2.14 billion were exchanged in 3,206 deals. Zenith Bank led the volume chart with 15.13 million units traded, while Geregu led the value chart in deals worth N1.20 billion.

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