The Nigerian stock market opened the week on a negative note on Monday, with investors recording a loss of N276 billion in market value amid a broad decline in equities.
Data from Nigerian Exchange Limited (NGX) showed that market capitalisation fell by 0.21 per cent to close at N128.693 trillion, down from N128.969 trillion recorded in the previous trading session.
Similarly, the All-Share Index shed 428.63 points, representing a 0.21 per cent decline, to settle at 200,484.43 compared with 200,913.06 earlier, moderating the year-to-date return to 28.84 per cent.
Market breadth closed negative, with 34 stocks posting losses against 27 gainers, reflecting weak investor sentiment across several sectors.
On the losers’ chart, Secure Electronic Technology led with a 10 per cent drop to close at N1.17 per share. Other decliners included May & Baker, Legend Internet, Cutix, and Fortis Global Insurance.
On the gainers’ side, Austinlaz topped the chart with a 9.98 per cent increase to close at N4.41 per share. It was followed by Zichis Agro Allied Industries, Transcorp Power, The Initiates, and Learn Africa.
Trading activity was mixed, as the value and number of deals increased while total volume declined. Investors exchanged 593.3 million shares worth N25.6 billion in 60,311 deals, compared with 595.2 million shares valued at N24.5 billion traded in 43,440 deals in the previous session.
In terms of activity levels, Access Corporation recorded the highest volume of traded shares at 86.64 million, while First HoldCo led the value chart with transactions worth N4.26 billion.
