The Nigerian equity market declined 0.4 per cent on Monday, driven by profit-taking in GTBank, UBN and Zenith Bank.

The All-Share Index (ASI) shed 0.39 per cent to close at 23,950.83 points, market capitalization lost ₦49.3billion to close at ₦12.5trillion

 Meanwhile, the bourse has so far lost 10.8 per cent this year, on the back of plummeted oil price and the impact of the coronavirus on the global economy.

The volume and value of transactions by investors were down 1.8 per cent and 19.1 per cent to 204.7million units and ₦1.8billion, respectively.

The most active stocks by volume were FBNH (44.1m units), GTBank (27.7m units) and REGALINS (20.7m units), while GTBank (₦585.0bn), FBNH (₦207.6bn) and ZENITH (₦185.3bn) led the value chart.

Performance across sectors was mixed as 3 of 6 indices under our coverage trended southward save the AFR-ICT index which closed flat.

The Banking index led laggards, down 2.8 per cent following profit-taking in GTBank (-4.3%), UBN (-8.6%) and Zenith Bank (-2.3%).

Similarly, the Insurance and Industrial Goods indices lost, down 0.2% and 0.1% respectively due to price depreciation in WAPIC (-9.1%) and CAP (-9.8%).

Conversely, the Oil & Gas index appreciated 0.9% on the back of gains in OANDO (+5.7%) and ARDOVA (+4.6%) while bargain hunting in UNILEVER (+10.0%) drove the Consumer Goods index 0.3% higher.

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