The Nigerian stock market started the week on a negative note, with key performance indices dropping by 0.44% on Monday.
Investors lost N248 billion, bringing the market capitalisation down from N56.423 trillion to N56.175 trillion. The All-Share Index also fell by 439 points, closing at 99,304.12 compared to 99,743.05 on Friday.
Declines in shares of Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holdings, International Breweries, Oando Plc, and Dangote Sugar contributed to the market’s downturn.
Market breadth was negative with 26 losers and 20 gainers on the exchange.
International Breweries led the losers, dropping by 44k to close at N3.96. Deap Capital Management and Trust Plc and Daar Communications both fell by 5k each, closing at 51k and 52k per share, respectively.
On the gainers’ side, Secure Electronic Technology Plc rose by 5k to close at 56k, while VDF Group increased by N4 to close at N44.60 per share.
Market activity analysis showed a 70.24% increase in trade turnover compared to the previous session. A total of 973.62 million shares valued at N19.32 billion were traded in 9,941 deals, up from 617.22 million shares worth N11.35 billion in 9,273 deals in the prior session.
FBN Holdings led in volume and value, with 627.64 million shares worth N13.45 billion traded, followed by Beta Glass with 34.70 million shares valued at N1.9 billion.
