Investors Lose N19bn As Stock Market Rout Continues

The Nigerian stock market opened the week negative, continuing last week's dip where over N600 billion in market capitalization was lost.

The All-Share Index dropped 0.10% on Monday to 38287.58 basis points, dragging market capitalization down to N19.96 trillion, and year-to-date returns to 4.92 percent.

After a total of 141,146,239 shares were traded in 3,566 deals, worth N1.09billion, market turnover closed negative, declining 44 percent as volume moved down by 19.02 percent. UACN Property Development Company, FBN Holdings Plc, and Chams Plc were the most active stocks to boost market turnover. Deals, however, improved by 38 percent compared to the previous session.

Top 5 Gainers

Royal Exchange Plc led Monday's list of 18 gainers, climbing 9.68 percent, or 6kobo, to close at 68kobo per share.

Regency Assurance Plc followed with a gain of 8.82 percent, or 3kobo, to close trading at 37kobo per share.

Consolidated Hallmark Insurance Plc gained 7.84 percent, or 4kobo, to close at a new 52-week high of 55kobo per share.

Sovereign Insurance Plc trailed with a gain of 7.69 percent, or 2kobo, to close trading at 28kobo per share.

Japaul Gold & Ventures Plc also followed closely with a 7.55 percent gain worth 4kobo to close trading at 57kobo per share.

Top 5 Decliners

ABC Transport led 19 decliners on Monday, dropping 9.76 percent, or 4kobo, to close trading at 37kobo per share.

Nigerian Enamelware Plc followed closely with a 9.75 percent dip worth N1.75, to close trading at N16.2 per share.

UACN Property Development Company declined 8.43 percent, or 7kobo, to close trading at 76kobo per share.

Jaiz Bank Plc lost 6.45 percent, or 4kobo, to close trading at 58kobo per share.

Courteville Business Solutions Plc lost 4.76 percent to close trading at 20kobo per share.