The stock market began the week on a cautious note on Monday as mild profit-taking shaved N11 billion off investors’ portfolios.
Data from the Nigerian Exchange Ltd., NGX, showed that market capitalisation was down by 0.01 per cent to N106.342 trillion, from N106.353 trillion at the previous close.
The All-Share Index, ASI, also dipped marginally, shedding 17 points or 0.01 per cent to close at 166,112.50, compared with 166,129.50 recorded on Friday.
The downward performance was driven by selloffs in stocks such as Industrial and Medical Gases, Haldane McCall, LivingTrust Mortgage Bank, Ikeja Hotel and Union Dicon Salt, alongside 19 other decliners.
However, market breadth closed positive with 44 gainers against 24 losers.
NCR Nigeria, Champion Breweries and Learn Africa topped the gainers’ chart, each appreciating by 10 per cent to close at N141.40, N19.25 and N7.15 per share, respectively.
Triple Gee increased by 9.94 per cent, settling at N5.86 and Neimeth International Pharmaceutical soared by 9.90 per cent, closing at N11.10 per share.
On the flip side, Industrial and Medical Gases topped the losers’ chart, shedding 9.95 per cent to close at N34.85 per share.
Haldane McCall followed with a decline of 9.88 per cent to N3.83, while LivingTrust Mortgage Bank dropped by 9.57 per cent to settle at N4.44 per share.
Also, Ikeja Hotel shed by 7.28 per cent, finishing at N32.50 and Union Dicon Salt dipped by 5.26 per cent, closing at N9 per share.
An analysis of the market activity showed a 21 per cent increase in the number of deals and a 17 per cent rise in trading volume, in spite a 12 per cent decline in transaction value.
A total of 629.6 million shares valued at N14.75 billion were exchanged across 57,858 transactions, compared to 539.9 million shares worth N16.7 billion that was traded in 48,023 deals in the previous session on Friday.
Meanwhile, Zenith Bank recorded the highest value traded at N1.57 billion, accounting for 10.64 per cent of total value traded for the day.
Secure Electronic Technology recorded the highest volume of 83.3 million traded share.
Source: NAN
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