The Nigerian equity market on Monday began the new week on a bearish note, extending losses to three successive trading session. The dismal performance was mainly driven huge selloff on baking and insurance sector. Market breadth closed negative, recording 11 gainers and 20 losers.
The All Share Index (ASI) shed 17.33 absolute points, representing a decline of 0.06%, to close at 31,125.39 points. Similarly, Market Capitalization lost N6.46billion representing a dip of 0.06%, to close at N11.61trillion.
DANGFLOUR emerged the top gainer while IKEJAHOTEL emerged as the top loser.
The downtrend was impacted by losses recorded in medium and large capitalized stocks, amongst which are; WEMABANK (-7.79%), FCMB (-2.70%), TRANSCORP (-2.40%), UBN(-2.14%), HONYFLOUR(-1.64%), FIDELITY (-1.40%), AFRIPRUD (-0.53%), ZENITHBANK (-0.45%), STERLNBANK(-0.43%), DANGSUGAR (-0.36%) and DANGCEM (-0.05%). (GTI)