Nigerian equity market sheds 0.91%

The Nigeria equity market declined 0.91 per cent on Monday due to profit-taking on bellwether stocks.

The All-Share Index (ASI) dipped by 228.42 absolute points, representing 0.91 per cent decline to close at 24,954.25 points, while the Market Capitalization shed N119.16 million, representing a dip of 0.91 per cent to close at N13.02 trillion as the bourse’s year-to-date performance worsened to -7.0 per cent.

REDSTAREX and FIDSON emerged as top of 25 gainers, while PRESTIGE shed the same percentage to top 15 other losers.

Investors traded a total of 237.6 million equities worth ₦1.6 billion in 4,808, decreasing the volume and value of stocks exchanged by 29.5 per cent and 52.7 per cent respectively.

FBNH (24.4m units), ZENITH (24.1m units) and FCMB (19.5m units) were the most active stocks, while ZENITH (₦392.4m), GUARANTY (₦341.0m) and FBNH (₦128.8m) led the value chart.

Most sectors went southward except the Insurance index, which appreciated 0.9 per cent on the back of gains in MANSARD (+8.1%) and CORNERSTONE (+9.8%).

On the flip side, the Banking (-1.9%) and Industrial Goods (-1.4%) indices led the laggards due to price weakness in ZENITH (-2.7%), UBA (-5.2%) and BUACEMENT.

The AFR-ICT (-1.0%) and Oil & Gas (-0.3%) indices also declined, following price declines in MTNN (-1.7%) and OANDO (-3.1%). Lastly, the Consumer Goods index slightly declined by 3bps on the back of a loss in INTBREW (-1.1%).