The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share Index fell by 0.08% to 105,367.25, though it maintained a 2.37% year-to-date gain. At the same time, the number of deals increased by 11%, and trading volume and turnover dipped by 1% and 16%, respectively. Tantalizer led trading volume with 48 million shares, followed by Univinsure, AIICO, and Chams. Guaranty Trust Holding dominated in value, posting N1.42bn from 24.4 million shares traded.
Despite the overall decline, 25 equities emerged as gainers while 33 recorded losses out of 130 listed stocks traded. CAP led the gainers with a 10% increase to N41.80, followed by Neimeth International Pharmaceuticals and Livestock Feeds, which rose by 9.96% and 9.90%, respectively. However, significant losses were noted for Lasaco Assurance, Northern Nigeria Flour Mills, and Academy Press, which shed 10%, 9.99%, and 9.85% in value, respectively.
Sectoral performance was mixed, with the Oil & Gas Index rising by 0.27% while the Consumer Goods Index fell by 0.16%. Last week, the NGX witnessed bullish sentiments, gaining N1.14tn in market capitalization and a 1.80% rise in the All-Share Index. However, Monday’s trading session signaled a cautious outlook as investors weighed market volatility.