The equities market kicked off the week on a downbeat note, with market capitalisation dropping by N1.173 trillion, or 1.26%, on Monday. Profit-taking in major stocks like Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance, and Guinea Insurance weighed heavily on the market.
Market cap closed at N92.328 trillion, down from its opening value of N93.501 trillion. The All-Share Index dipped 1,853.82 points (0.26%) to end at 145,159.77, compared to Friday’s 147,013.59.
Despite the fall, market breadth was positive with 28 gainers against 24 losers. Leading the gains, Sovereign Trust Insurance jumped 9.97% to close at N3.20, followed closely by NCR Nigeria with a 9.96% rise to N28.15. Tantalizer continued its upward trend, gaining 9.81% to N2.35 per share. Prestige Assurance and Eunisell Interlinked also recorded strong gains of 9.70% and 8.52% respectively.
On the losing end, Dangote Cement and Enamelware took the biggest hits, both shedding 10% to close at N534.60 and N40.50. Transcorp Power fell 4.66% to N43, AIICO Insurance dropped 4.11% to N3.50, and Guinea Insurance declined 3.97% to N1.21.
A total of 388.2 million shares worth N31.14 billion exchanged hands in 28,492 deals, lower than Friday’s volume of 4.89 billion shares valued at N42.2 billion from 24,152 transactions.
Notably, Tantalizer recorded the highest trading volume with 57.12 million shares, while ARADEL posted the highest value at N21.50 billion.
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