By MBAFAN ADE, Abuja–
Nigerian stock market opened the week on a negative note on Monday, with its key performance indicators experiencing a decline of 0.15%. The market capitalization shed N108 billion, closing at N72.680 trillion, down from N72.788 trillion recorded on Friday.
The All-Share Index also declined, losing 170.77 points or 0.15%, to close at 115,258.77 from the previous close of 115,429.54. According to market analysts, the downward trend was driven by profit-taking among investors.
The market breadth closed negative, with 43 losers and 21 gainers. Northern Nigeria Flour Mills led the losers’ chart, dropping by 10% to close at N101.30. Other notable losers included Cileasing, which fell by 9.68% to N4.20 per share, and University Press, which shed 9.27% to close at N4.99 per share.
On the other hand, Guinea Insurance topped the gainers’ chart, rising by 10% to settle at 77k per share. Other notable gainers included Ellah Lakes, which gained 9.93% to close at N4.76 per share, and Legend Internet, which soared by 9.87% to close at N7.79 per share.
The market recorded a total of 721.75 million shares worth N22.01 billion across 22,100 transactions. Access Corporation led the activity chart with 92.70 million shares worth N1.90 billion, followed by United Bank for Africa with 91.36 million shares valued at N3.09 billion.
