Stock market capitalization declines by N622bn
Many telecom and financial companies were sold off, causing investors to lose N622 billion at the close of trade on Monday.
The market fell 2.08 percent from its opening All-Share Index value of 54,892.53 to end at 750.77, or 53. Also declining by 2.08 percent to N29.281 trillion was the market capitalization.
The Nigerian Exchange Limited recorded 3.279 deals at a total of 100.882 million shares worth N 4.342 billion.
By looking at market breadth, one can see that investor mood has deteriorated as five stocks are up while 21 are down.
The five stocks on the gainers’ table are Court Ville, which increased by 6.67% to close at N0.45, NPF Microfinance, which increased by 2.70% to close at N1.90, AIICO Stocks, which increased by 1.75% to close trading at N0.58, First Bank Holdings, which increased by 0.92% to close trading at N11.00, and Zenith Bank, which increased by 0.20% to close the market at N25.00.
On the losers’ table were NCR, whose shares dropped 9.79% in market value to close at N2.12, Unity Bank, whose shares dropped 9.43% to close at N0.48, and Prestige, whose shares dropped 8.89% to close at N0.41.
MTN Nigeria was the most valuable stock traded, with 8.264 million shares worth N1.926 billion changing hands in 414 transactions.
