Weak investor sentiment sliced 0.63 per cent from the Nigerian Exchange (NGX) Limited on Monday, the first trading session after a one-day break last Friday for Democracy Day celebration in Nigeria.
The stock market came under selling pressure yesterday, leaving all the major sectors of the bourse facing southwards.
The energy index shed 3.20 per cent, the banking space lost 1.17 per cent, the insurance counter declined by 0.68 per cent, and the consumer goods sector crumbled by 0.39 per cent, while the industrial goods segment closed flat.
Consequently, the market capitalisation decreased by N844 billion to N156.126 trillion from N156.970 trillion, and the All-Share Index (ASI) contracted by 1,316.40 points to 243,422.34 points from 244,738.74 points.
International Energy Insurance gave up 9.99 per cent to trade at N6.40, eTranzact crashed by 9.97 per cent to N14.90, Abbey Mortgage Bank lost 9.65 per cent to finish at N10.30, Oando dropped 9.43 per cent to quote at N48.00, and NAHCO tumbled by 9.19 per cent to N163.00.
On the flip side, Royal Exchange appreciated by 10.00 per cent to N1.65, Ikeja Hotel moved up by 9.97 per cent to N47.45, Neimeth improved by 9.94 per cent to N9.40, Consolidated Hallmark gained 9.58 per cent to sell for N9.04, and University Press climbed 9.09 per cent to N6.00.
Yesterday, market participants traded 569.1 million shares valued at N31.4 billion in 77,652 deals compared with 1.7 billion shares worth N52.8 billion exchanged in 49,807 deals in the preceding session, showing a rise in the number of deals by 55.91 per cent, a tightening in the trading volume by 66.52 per cent, and a shrinkage in the trading value by 40.53 per cent.
Sterling Holdings was the busiest stock on Monday with a turnover of 103.0 million units worth N805.5 million, GTCO exchanged 41.3 million equities for N5.6 billion, FCMB traded 37.9 million shares for N433.7 million, Access Holdings sold 27.3 million equities worth N666.0 million, and UBA transacted 20.4 million stocks valued at N877.3 million.