Business
Stock market sheds N658bn, down by 1.23%
It was a bearish session on the floor of the Nigerian stock market on Monday as investors’ wealth dropped by N658 billion.
The All Share Index was down by 0.99% to close at 104,216.87 points from the previous close of 105,511.89 points.
The Market Capitalisation declined by 0.99% to close at N65.489 trillion from the previous close of N66.147 trillion, thereby shedding N658 billion.
An aggregate of 444 million units of shares were traded in 15,690 deals, valued at N11 billion.
The Market Breadth closed negative as 9 equities emerged as gainers against 51 that declined in their share prices.
Percentage Gainers
VFDGROUP led other gainers with 10.00% growth to close at N62.70 from the previous close of N57.00.
TOTAL, Guinea Insurance and International Energy Insurance among other gainers also grew their share prices by 9.61%, 9,52% and 9.33% respectively.
Percentage Losers
OANDO, Secure Electronic Technology, RTBRISCOE and Cornerstone Insurance led other price decliners as they shed 10.00% each
Honeywell Flour, Consolidated Hallmark Holdings and Sunu Assurance among other price decliners also shed their share prices by 9.98%, 9.94% and 9.90% respectively.
Volume Drivers
FCMB traded about 65 million units of its shares in 478 deals, valued at N589 million.
Fidelity traded about 43 million units of its shares in 697 deals, valued at N818 million.
GTCO traded about 34 million units of its shares in 1,075 deals, valued at N2.3 billion.