Stock market indices decline 0.03%

By Seun Ibiyemi

The Nigerian stock market kicked off the week on a subdued note on Monday, as key performance indices edged down by 0.03 per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) saw its market capitalisation decline by ¦ 21 billion, slipping to ¦ 65.685 trillion from ¦ 65.706 trillion recorded on Friday.

Likewise, the All-Share Index dropped by 33.72 points, or 0.03 per cent, closing at 104,529.62 compared to Friday’s 104,563.34.

The marginal loss was largely driven by profit-taking activities and selling pressure observed across multiple sectors.

Despite the dip, overall market sentiment remained upbeat, with 28 stocks posting gains against 24 decliners.

ABBEY Mortgage Bank topped the list of gainers, appreciating by 9.95 per cent to close at ¦ 6.74 per share.

UPDC Real Estate Investment Trust followed closely, advancing by 9.82 per cent to finish at ¦ 3.13 per share.

Guinea Insurance rose by 9.52 per cent to 69k, while VFD Group gained 9.46 per cent to settle at ¦ 96.00 per share.

Sovereign Trust Insurance increased by 9.41 per cent, ending the trading session at 93k per share.

On the losing side, International Energy Insurance recorded the steepest drop, shedding 9.76 per cent to close at ¦ 1.48.

Consolidated Hallmark Plc slid 8.33 per cent to ¦ 2.75 per share.

Japaul Gold and Ventures Plc fell by 7.46 per cent, closing at ¦ 1.86 per share.

Chams Holding Plc dropped 6.98 per cent to settle at ¦ 2.00 per share, while Neimeth International Pharmaceutical dipped 6.94 per cent to ¦ 2.68 per share.

Trading activity was brisk, with investors exchanging 428.16 million shares worth ¦ 10.518 billion across 14,583 deals.

This marked a rise from Friday’s 379.95 million shares valued at ¦ 10.10 billion, executed in 10,791 transactions.

Access Corporation led the volume chart with 55.98 million shares traded, amounting to ¦ 1.14 billion in value.

Zenith Bank followed with 55.428 million shares exchanged, worth ¦ 2.76 billion.

Fidelity Bank moved 39 million shares valued at ¦ 725 million, while United Bank for Africa recorded trades of 33.192 million shares valued at ¦ 1.041 billion.

Guaranty Trust Holding Company closed out the top five most active stocks with 31.024 million shares worth ¦ 2.115 billion traded.

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