The Nigerian Exchange Ltd. (NGX) witnessed a decline in market capitalisation on Monday, dropping by N51 billion.
The market capitalisation opened at N55.861 trillion and closed at N55.810 trillion, marking a 0.09 per cent decrease.
Similarly, the All-Share Index dropped by 0.09 per cent or 93 points, closing at 101,995.53 compared to 102,088.30 recorded on Friday. Consequently, the Year-To-Date (YTD) return fell to 36.41 per cent.
This downward trend was attributed to selloffs in some stocks of Tier-one banks such as FBN Holdings, United Bank for Africa (UBA), Zenith Bank, and Dangote Cement.
The total volume of shares traded amounted to 294.32 million valued at N6.72 billion, exchanged in 9,957 deals. This represented an increase from the previous session, with trade turnover up by 11.69 per cent.
On the losers’ chart, Nestle Nigeria Plc led with a percentage decline of 10, closing at N990 per share. Eterna Plc followed closely with a 9.97 per cent drop to close at N15.80 per share.
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FIDSON Healthcare Plc lost 9.82 per cent, closing at N15.15, while CWG Plc and Sunu Assurances declined by 9.56 per cent and 9.09 per cent respectively.
In contrast, National Salt Company of Nigeria (NASCON) led the gainers’ table with a 10 per cent increase, closing at N66 per share.
Juli Plc gained 9.83 per cent to close at N2.57 per share, while FBN Holdings appreciated by 9.68 per cent, closing at N34 per share.
FBN Holdings also led in volume and value, trading 73.84 million shares valued at N2.42 billion, followed by United Bank of Africa (UBA) with 20.67 million shares worth N493.05 million.
Zenith Bank traded 20.62 million shares valued at N731.41 million, Fidelity Bank sold 19.98 million shares worth N205.40 million, and Veritas Kapital transacted 12.32 million shares valued at N8.96 million.
The market breadth closed positive with 28 gainers and 26 losers on the trader’s chart.
