Bearish performance persists at the Nigerian Exchange Limited (NGX) as the market indicator sheds 0.1 per cent on Monday.
Owing to profit-taking of some high capitalised stocks the All Share Index (ASI) closed lower to 38,287.58 basis points.
High Cap stocks such as Guaranty Trust Bank, Eterna Oil, Acces Bank and AIICO Insurance closed lower by 0.85 per cent, 2.50 per cent, 0.15 per cent and 0.06 per cent amid sell pressure.
Consequently, investors lost N19.1 billion as the market capitalisation settled at N19.956 trillion.
Accordingly, Month-to-date and Year-to-Date losses increased to -3.9 per cent and -4.9 per cent, respectively.
As measured by market breadth, market sentiment was almost neutral, as 18 stocks gained relative to 17 losers.
On the chart, Royal Exchange and Regal Insurance recorded the most significant gains of the day with 9.7 per cent and 8.8 per cent respective gains, while ABC Transport and Enamel Wares topped the losers’ list with 9.8 per cent respective losses.
Sectorial performance was however weak as three out of the five indices tracked closed in the red zone; the NSE Banking, NSE Insurance and the NSE Consumer Goods indices fell by 0.68 per cent, 0.75 per cent and 0.68 per cent respectively.
On the positive side, the NSE Oil/Gas and the NSE Industrial indices rose by 0.21 per cent and 0.09 per cent respectively.
Meanwhile, trading activity picked up as total deals and volume of stock traded rose by 103.42 per cent and 64.54 per cent to 3,566 deals and 0.14 billion units respectively.
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