Stock market indices decline 0.03%

The stock market began the week on a negative note on Monday, as performance indices dipped by 0.03 per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation dropped by N21 billion, falling to N65.685 trillion from N65.706 trillion on Friday.

The All-Share Index also declined by 33.72 points or 0.03 per cent to close at 104,529.62, down from Friday’s 104,563.34.

The downturn was attributed to profit-taking and sell pressure observed across several key market sectors.

In spite of the drop, the market breadth ended positive with 28 gainers against 24 losers.

ABBEY Mortgage Bank led the gainers, rising by 9.95 per cent to close at N6.74 per share.

UPDC Real Estate Investment Trust followed, increasing by 9.82 per cent to close at N3.13 per share.

Guinea Insurance gained 9.52 per cent, closing at 69k, while VFD Group rose 9.46 per cent to close at N96.00 per share.

Sovereign Trust Insurance climbed 9.41 per cent, ending the day at 93k per share.

On the losers’ chart, International Energy Insurance fell by 9.76 per cent, closing at N1.48.

Consolidated Hallmark Plc declined 8.33 per cent to close at N2.75 per share.

Japaul Gold and Ventures Plc dropped 7.46 per cent, closing at N1.86 per share.

Chams Holding Plc lost 6.98 per cent to settle at N2.00 per share.

Neimeth International Pharmaceutical fell 6.94 per cent to close at N2.68 per share.

Investors traded 428.16 million shares worth N10.518 billion across 14,583 transactions.

This compares to Friday’s 379.95 million shares valued at N10.10 billion across 10,791 transactions.

Access Corporation led activity with 55.98 million shares worth N1.14 billion changing hands.

Zenith Bank followed, trading 55.428 million shares valued at N2.76 billion.

Fidelity Bank exchanged 39 million shares worth N725 million during the session.

United Bank for Africa sold 33.192 million shares valued at N1.041 billion.

Guaranty Trust Holding Company traded 31.024 million shares worth N2.115 billion.