Stock market indices reverse negative trend, down by 0.01%

Transactions on the Nigerian equities market closed on a negative note on Monday as market indicators deprecated marginally by 0.01 per cent.

It was reported that the market capitalisation, which opened at N30.394 trillion, shed N3 billion to close at N30.391 trillion.

The All-Share Index (ASI) dropped by 6.14 points or 0.01per cent to close at 55,788.37 as against 55,794.51 recorded on Friday.

Consequently, the ASI’s year-to-date (YTD) return decreased to 8.85 per cent.

The downturn was due to profit taking in Tier-one banking stock, Zenith Bank and Guaranty Trust Holding Company, among others.

Universal Press recorded the highest gain to lead the table, growing by 9.89 per cent to close at N2 per share.

Computer Warehouse Group rose by 7.69 per cent to close at 98k, while Multiverse Mining & Exploration gained by 5.04 per cent to close at N3.75 per share.

BUA Foods appreciated by 4.21 per cent to close at N99, while Regency Alliance Insurance increased by 3.45 per cent to close at 30k per share.

Conversely, NGX Group led the losers’ chart, dropping by 9.72 per cent to close at 26 per share.

NPF Microfinance Bank also recorded a decline to close at 26k, while Courteville Business Solution dropped by 6.25 per cent to close at N1.73 per share.

Linkage Assurances fell by 4.35 per cent to close at 44k per share.

Similarly, the volume of shares traded depreciated by 35 per cent with an exchange of 129.03 million shares worth N2.56 billion exchanged in 4,296 deals.

A breakdown of the activity chart showed that NGX Group was investors’ delight, accounting for 38.15 million shares worth N994.55 billion.

It was trailed by Transcorp with 19.73 million shares valued at N26.6 million, while Sterling Bank sold 15.89 million shares worth N23.08 million.

Zenith Bank transacted 14.84 million shares valued at N374.26 million, while UBA traded 13.7 million shares worth N112.48 million.