Stock Market Indices Reverse Positive Trend, Down By 0.01 Per Cent

Trading on the Nigerian stock market ended on Monday on a negative note as a result of market indicators declining by a minuscule 0.01 percent.

The market capitalization, which began at N30.394 trillion and closed at N30.391 trillion, according to NAN, decreased by N3 billion.

As opposed to the 55,794.51 value from the previous day, the All-Share Index (ASI) decreased by 6.14 points, or 0.01 percent, to settle at 55,788.37.

As a result, the year-to-date (YTD) return for the ASI dropped to 8.85%.

The downturn was due to profit taking in Tier-one banking stock, Zenith Bank and Guaranty Trust Holding Company, among others.

The largest gainer on the table was Universal Press, which increased by 9.89% to settle at N2 per share.

Multiverse Mining & Exploration increased by 5.04 per cent to conclude at N3.75 per share, while Computer Warehouse Group increased by 7.69 per cent to close at 98,000.

Regency Alliance Insurance climbed by 3.45 per cent to close at 30k per share, while BUA Foods increased by 4.21 percent to close at N99.

On the other hand, NGX Group, which fell by 9.72 per cent to settle at 26 per share, topped the losers' chart.

Furthermore seeing a decline, NPF Microfinance Bank closed at 26k, while Courteville Business Solution saw a 6.25 percent decline, closing at N1.73 per share.

Linkage Assurances decreased by 4.35% to close at $44,000 per share.

Corresponding to this, the number of shares moved decreased by 35%, with 4,296 deals involving 129.03 million shares worth N2.56 billion.

An analysis of the activity chart revealed that NGX Group, which accounted for 38.15 million shares valued at N994.55 billion, was a favourite of investors.

With 19.73 million shares sold for N26.6 million, Transcorp came in second, followed by Sterling Bank with 15.89 million shares sold for N23.08 million.

While UBA traded 13.7 million shares worth N112.48 million, Zenith Bank traded 14.84 million shares worth N374.26 million.