Market capitalisation dips as stocks shed N3bn

The market capitalisation of the Nigerian Exchange Limited shed N3bn on Monday at the close of trading.

This was also as the All-Share Index dropped by 6.14 points representing a decrease of 0.011 per cent to close at 55, 788.37.

At the close of trading on Monday, 179,028,155 million of shares worth N2.547bn were traded in 4,296 deals.

The market breadth trended towards negative as 21 stocks ended up on the losers’ table while 12 equities were on the gainers’ table.

Topping the losers’ table was the stock of the NGX Group, which had been seeing a lot of insider trading in the past days. NGX Group lost 9.72 per cent of it share value to close at N26.00 per share. Following was the NPF Microfinance Bank which lost 8.47 per cent of its value to close trading at N1.73. Third on the losers’ table was Courtville which closed trading at N0.45 per share after losing 6.25 per cent of its share value.

For the gainers’ table, UPL gained 9.89 per cent to close trading at N2.00. Computer Warehouse Group and Multiverse gained 7.69 per cent and 2.05 per cent to close trading at N0.98 and N3.75 respectively.

Atop the Most Traded stocks chart on Monday was Zenith Bank which traded 14,834,841 shares worth N374,262,538.35 in 388 deals. Zenith Bank’s share value closed at N25,00.

Next was MTN Nigeria, whose 462,734 shares were traded. The shares valued at N114.904m were exchanged in 301 deals and the share closed at N248.30. Third on the gainers’ table was United Capital Plc which had 9,115,536 million of its shares sold in 235 deals. The shares were worth N132.752m.

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