By Olawunmi Ashafa
The Nigerian Exchange Ltd. (NGX) on Monday closed bearish as market capitalisation which opened at N26.994 trillion shed N31 billion or 0.11 per cent to close at N26.964 trillion.
Also, the All Share Index (ASI) dropped 54.42 points, representing a loss of 0.11 per cent to close at 49,991.41, against 50,045.83 recorded on Friday.
As a result, the ASI’s year-to-date (YTD) return fell to 17.03 per cent.
The downturn was impacted by losses recorded in stocks of Tier banks, among which are: Zenith Bank, Stanbic Bank and medium stocks such as WAPCO and Cutix.
ABC Transport led the losers’ chart dropping by 9.68 per cent, to close at 28k per share.
Japaul Oil and Ventures shed 9.09 per cent to close at 30k, while NGX Group depreciated by 4.55 per cent to close at N21 per share.
WAPCO declined by 4.20 per cent to close at N23.95, while Cutix was down by 3.77 per cent to close at N2.04 per share.
Conversely, Chams recorded the highest gain to lead the gainers’ chart with a gain of 7.69 per cent, to close at 28k per share.
Flour Mills gained 4.46 per cent to close at N29.30, while Nigerian Breweries appreciated by 3.72 per cent to close at N48.75 per share.
Pharmdeko appreciated by 2.63 per cent to close at N1.95, while NPF Microfinance went up by 2.47 per cent to close at N1.66 per share.
The total volume traded depreciated by 44.55 per cent with an exchange of 200.92 million shares worth N1.45 billion traded in 3,976 deals.
This was in contrast with 229.12 million shares valued at N1.75 billion in 3,575 deals on Friday.
Transactions in the shares of Sterling Bank topped the activity chart with 90.3 million shares worth N131.9 million.
Fidelity Bank came second with 11.6 million shares worth N39.74 million, while United Bank for Africa(UBA) traded 10.65 million shares valued at N76.76 million.
Guaranty Trust Holding Company (GTCO) transacted 10 million shares worth N199.23 million, while Sterling Bank accounted for 9.5 million shares worth N203.08 million. (NAN)
Edited by Salif Atojoko