NGX Loses 0.08% as Lasaco Assurance Closes Worst-Performing Stock

This was caused by profit-taking in the financial services sector as investors continued to recalibrate their portfolios at the start of the new year.

The insurance counter declined by 2.71 per cent, the banking space lost 0.36 per cent, and the consumer goods index shed 0.16 per cent, while the energy industry improved by 0.27 per cent, with the industrial goods sector closing flat.

When the bourse ended for the session, the All-Share Index (ASI) contracted by 83.81 points to 105,367.25 points from 105,451.06 points and the market capitalisation moderated by N51 billion to N64.252 trillion from N64.303 trillion.

The worst-performing stock for the session was Lasaco Assurance because it gave up 10.00 per cent of its share price to finish at N3.24, Northern Nigerian Flour Mills deflated by 9.99 per cent to N41.00, Academy Press weakened by 9.85 per cent to N2.93, ABC Transport crumbled by 9.76 per cent to N1.11, and RT Briscoe slumped by 9.73 per cent to N2.32.

On the flip side, CAP finished the trading day as the best-performing stock after it chalked up 10.00 per cent to trade at N41.80, Neimeth gained 9.96 per cent to quote at N2.87, Livestock Feeds improved by 9.90 per cent to N5.55, Secure Electronic Technology expanded by 9.88 per cent to 89 Kobo, and International Energy Insurance surged by 8.33 per cent to N2.21.

Business Post reports that investor sentiment was weak yesterday as Customs Street closed with 26 price gainers and 33 price losers, representing a negative market breadth index.

During the session, a total of 505.8 million shares worth N8.1 billion exchanged hands in 14,259 deals versus the 1.5 billion shares worth N19.4 billion in 12,877 deals last Friday, indicating a surge in the number of deals by 10.73 per cent and a fall in the trading volume and value by 65.91 per cent and 58.25 per cent, respectively.

Tantalizers was the busiest equity on Monday with 48.0 million units sold for N118.7 million, Universal Insurance transacted 31.2 million units worth N24.0 million, AIICO Insurance traded 30.0 million units valued at N56.6 million, Chams exchanged 29.7 million units for N62.0 million, and GTCO sold 24.4 million units worth N1.4 billion.