The market capitalization of the Nigerian Exchange Ltd. (NGX) dropped by N51 billion on Monday.
Specifically, the market capitalization opened at N55.861 trillion and closed at N55.810 trillion, representing a 0.09 percent decrease.
The All-Share Index also dropped by 0.09 percent, or 93 points, to close at 101,995.53, as against 102,088.30 posted on Friday.
Consequently, the year-to-Date (YTD) return fell to 36.41 percent.
The downward performance was due to selloffs in some of the stocks of Tier-one banks such as FBN Holdings, United Bank for Africa (UBA), Zenith Bank, and Dangote Cement.
A total of 294.32 million shares valued at N6.72 billion were exchanged in 9,957 deals, compared to N291.01 million shares valued at N6.02 billion recorded in 7,710 deals at the previous session.
However, analysis of the market activities indicated trade turnover settled higher relative to the previous session, with the value of transactions up by 11.69 percent.
On the losers chart, Nestle Nigeria Plc led in percentage terms of 10 to close at N990.
Eterna Plc followed by 9.97 percent to close at N15.80 per share.
FIDSON Healthcare Plc lost 9.82 percent to close at N15.15, CWG Plc trailed by 9.56 percent to close at N6.15, while Sunu Assurances declined by 9.09 percent to close at N1.90 per share.
Conversely, National Salt Company of Nigeria (NASCON) led the gainers’ table in percentage terms of 10 to close at N66, and Juli Plc gained 9.83 percent to close at N2.57 per share.
FBN Holdings appreciated by 9.68 percent to close at N34, WAPIC Insurance rose by 8.96 percent to close at 73k, and Daar Communications went up by 8.86 percent to close at 86k per share.
On the activity chart, FBNH led in volume and value with a trade of 73.84 million shares valued at N2.42 billion, followed by the United Bank of Africa (UBA), which sold 20.67 million shares worth N493.05 million.
Zenith Bank also traded 20.62 million shares valued at N731.41 million; Fidelity Bank sold 19.98 million shares worth N205.40 million; and Veritas Kapital transacted 12.32 million shares valued at N8.96 million.
Meanwhile, market breadth closed positive with 28 gainers and 26 losers on the trader’s chart.(NAN)
