The Nigerian Exchange Ltd. (NGX) closed Monday’s trading session on a downward trend, with market capitalisation falling by N318 billion (0.54%) from N59.039 trillion to N58.721 trillion. The All-Share Index declined by 524.3 points, or 0.54%, closing at 96,907.73, down from Friday’s 97,432.02. This downturn reduced the Year-To-Date (YTD) return to 29.60%.
Selloffs in key stocks, including MTN Nigeria, Aradel, Oando, GTCO, FBN Holdings, and Zenith Bank, contributed to the bearish performance. Market breadth also closed negative, with 30 stocks declining against 17 gainers.
Caverton led the day’s losers, dropping 10% to N1.80 per share, followed by Aradel at 9.99% to N401.10, Oando at 9.98% to N80.70, FTN Cocoa at 9.90% to N1.74, and Veritas Kapital at 9.86% to N1.28.
Conversely, John Holt and United Bank for Africa (UBA) topped the gainers' list, each rising 10% to close at N3.63 and N31.90, respectively. Eunisell saw a 9.96% increase to N6.18, Sterling Nigeria gained 5.96% to N4.98, and PZ advanced by 4.55% to N23 per share.
Trading volume was robust, with a turnover of 1.22 billion shares valued at N14.23 billion across 10,386 deals, although the total value of transactions dipped by 10.15% from the previous session. UBA led trading activity, accounting for 240.76 million shares valued at N7.29 billion.
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