A contraction of 0.10 per cent was experienced by the Nigerian Exchange (NGX) Limited on Monday after a series of positive run in the past few sessions.
The pullback was influenced by mild selling pressure in the banking and the consumer goods indices, as they respectively gave up 1.98 per cent and 0.65 per cent at the close of business.
However, the energy sector appreciated by 4.24 per cent, the commodity landscape improved by 2.31 per cent, and the insurance counter increased by 1.09 per cent, while the industrial goods industry closed flat.
The pressure on Customs Street weakened the All-Share Index (ASI) by 148.90 points to 155,496.15 points from 155,645.05 points and depleted the market capitalisation by N95 billion to N98.698 trillion from N98.793 trillion.
The losers’ group was led by Deap Capital after it shrank by 9.71 per cent to N1.58, Champion Breweries lost 9.64 per cent to quote at N15.00, Red Star Express depreciated by 8.64 per cent to N10.05, Coronation Insurance went down by 6.45 per cent to N2.90, and Universal Insurance retreated by 5.98 per cent to N1.10.
Conversely, the gainers’ gang was led by Aradel Holdings after it chalked up 10.00 per cent to trade at N869.00, NEM Insurance jumped by 9.67 per cent to N32.90, Aso Savings expanded by 9.09 per cent to 72 Kobo, Eterna rose by 8.75 per cent to N43.50, and Chams soared by 7.59 per cent to N4.25.
Business Post reports that the market breadth index was negative yesterday after the bourse ended with 25 price gainers and 34 price losers, representing a weak investor sentiment.
Investors transacted 503.0 million equities valued at N24.9 billion in 39,972 deals on the first trading session of the week versus the 1.2 billion equities worth N31.5 billion traded in 29,989 deals last Friday, indicating a decline in the trading volume and value by 58.08 per cent and 20.95 per cent apiece and a leap in the number of deals by 33.29 per cent.