Equities Market Opens Week Lower, N1.173 Trillion Lost in Capitalisation
The Nigerian equities market opened the week on a negative note on Monday, losing N1.173 trillion or a 1.26 per cent decline.
The downturn was largely driven by profit-taking in major stocks, including Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance, and Guinea Insurance. Market capitalisation closed at N92.328 trillion, down from the opening value of N93.501 trillion.
The All-Share Index (ASI) dipped by 1,853.82 points, or 0.26 per cent, ending at 145,159.77 compared with 147,013.59 on Friday.
Despite the overall decline, market breadth remained positive, with 28 stocks gaining against 24 losers.
Top Gainers:
- Sovereign Trust Insurance led the gainers with a 9.97 per cent rise to close at N3.20 per share.
- NCR Nigeria followed closely, gaining 9.96 per cent to N28.15.
- Tantalizer continued its upward momentum, rising 9.81 per cent to N2.35 per share.
- Prestige Assurance and Eunisell Interlinked appreciated by 9.70 per cent and 8.52 per cent to close at N1.47 and N79, respectively.
Top Losers:
- Dangote Cement and Enamelware led the losers, each shedding 10 per cent to close at N534.60 and N40.50, respectively.
- Transcorp Power fell 4.66 per cent to N43.00.
- AIICO Insurance declined by 4.11 per cent to N3.50, while Guinea Insurance dropped 3.97 per cent to N1.21 per share.
Trading Activity:
Total turnover for the day stood at 388.2 million shares worth N31.14 billion, traded in 28,492 deals. This was lower than Friday’s volume of 4.89 billion shares valued at N42.2 billion across 24,152 transactions.
Notable Trades:
- Tantalizer recorded the highest trading volume with 57.12 million shares exchanged.
- ARADEL posted the highest trading value at N21.50 billion.
