The Nigerian equities market began the week with a significant stock market loss, closing on Monday with a drop of N1.173 trillion or 1.26 per cent in market capitalisation. The decline was fuelled by profit-taking in key stocks such as Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance and Guinea Insurance.
Market capitalisation fell to N92.328 trillion from an opening value of N93.501 trillion, reinforcing the scale of the stock market loss witnessed at the start of the week.
The All-Share Index also reflected the stock market loss, dipping by 1,853.82 points or 0.26 per cent to close at 145,159.77, compared with 147,013.59 recorded on Friday.
Despite the loss, market breadth ended positive, with 28 gainers outperforming 24 losers. Sovereign Trust Insurance led the gainers’ chart with a 9.97 per cent increase to N3.20, followed closely by NCR Nigeria, which rose 9.96 per cent to N28.15.
Tantalizer extended its upward trend, gaining 9.81 per cent to close at N2.35 per share, while Prestige Assurance appreciated by 9.70 per cent to N1.47. Eunisell Interlinked added 8.52 per cent to reach N79.
On the losing side, the stock market loss was driven heavily by Dangote Cement and Enamelware, both shedding 10 per cent to close at N534.60 and N40.50 respectively. Transcorp Power dropped 4.66 per cent to N43, AIICO Insurance slid 4.11 per cent to N3.50, while Guinea Insurance fell 3.97 per cent to N1.21.
Total turnover for the day stood at 388.2 million shares valued at N31.14 billion, traded in 28,492 deals. This marked a notable decline from Friday’s activity level of 4.89 billion shares worth N42.2 billion across 24,152 transactions.
Tantalizer posted the highest volume with 57.12 million shares traded, while ARADEL led in transaction value at N21.50 billion, despite the prevailing market loss.
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