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STOCK MARKET: Capitalization drops by N89bn
Market capitalization on the Nigerian Stock Exchange took a dip on Monday by N89 billion, continuing the downward trend the stock market has witnessed in the new year.
The market capitalisation dropped from N11.425 trillion on Friday to N11.336 trillion on Monday, while the All-Share Index declined by 0.78 per cent to close at 30,400.28 basis points from the 30,638.90 bps recorded on Friday.
The year-to-date return weakened to -3.3 per cent, while investor sentiment remained unchanged as market breadth stood at 0.4x.
At the end of trading on Monday, a total of 222.583 million shares worth N3.342bn exchanged hands in 3,746 deals.
Top traded stocks by volume included Diamond Bank Plc (77.7 million units), Zenith Bank (19.7 million units) and FBN Holdings Plc (10.8 million units), while Nestlé (N1.1bn), Zenith Bank (N430.1m) and Nigerian Breweries Plc (N413.7m) were the top traded stocks by value.
The sectoral index were also mostly in the red, as only the industrial goods index recorded gains, as it rose by 0.1 percent.
The consumer goods index recorded the most loss, shedding 2.3 per cent. while the banking, oil and gas and insurance indices fell by 0.9 per cent, 0.7 per cent and 0.3 per cent respectively.
Read also: STOCK MARKET: Investors lose N134.4bn on first trading day of 2019
There were fourteen gainers against 34 losers at the end of trading on Monday.
The top five gainers were Diamond Bank, Wapic Insurance Plc, A.G. Leventis Nigeria Plc, AIICO Insurance Plc and Regency Assurance Plc, as they increased by 10 per cent, 10 per cent, 7.41 per cent, 6.25 per cent and five per cent respectively.
The top five losers were NEM Insurance Plc, Resort Savings and Loans Plc, MRS Oil Nigeria Plc, UACN Property Development Company Plc and Flour Mills of Nigeria Plc, whose respective share prices declined by 10 per cent, 10 per cent, 9.92 per cent, 9.90 per cent and 9.84 per cent.
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