Markets
Profit-taking on bellwether stocks drags Nigerian equity market down 0.22%
The Nigerian equity recorded a second consecutive trading sessions’ loss on Monday due to profit-taking on bellwether stocks like Access Bank, GTBank, and ETI.
The All Share Index (NSE ASI) declined 22% to close at 25,143.68 against the previous close of 25,199.84 on Friday, while the Market Capitalization shed N29.30 billion to close at ₦13.116 trillion, 0.22% lower than ₦13.146 trillion on Friday, while the Year-to-Date return stood at -6.33%.
The volume of equities investors traded dipped by 66.59% from 482.518 million to 161.232 million, while the total value of stock traded dropped by 59.20% from ₦4.524 billion to ₦1.846 billion in 3,597 deals.
Unilever increased 10% to emerge top of the 17 gainers, while Livestock lost 8.33% to lead 14 other losers.
GTBank, Zenith Bank, Sterling Bank, FBNH, and International Breweries were the most active stocks by volume, while GTBank, Dangote Cement, and Zenith Bank led by value.
The Financial Services sector led the activity chart with 105.957 million shares exchanged for ₦1.056 billion. Consumer Goods came next with 18.462 million shares traded for ₦0.089 billion, Industrial Goods, Oil and Gas, ICT sectors followed in that order on the activity chart.
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