By Dipo Olowookere
The Nigerian Stock Exchange (NSE) recorded another decline on Monday on the back of sustained profit-taking, which left the market downcast by 0.08 per cent.
During the trading session, the first this week, the All-Share Index (ASI) depreciated by 32.61 points to 40,154.09 points from 40,186.70 points, while the market capitalisation went down by N17 billion to N21.009 trillion from N21.026 trillion.
A total of 289.3 million shares worth N3.6 billion were traded in 4,953 deals yesterday compared with the 307.8 million shares worth N2.9 billion transacted the previous session in 4,393 deals, indicating a 5.99 per cent in the trading volume, a 23.01 per cent growth in the trading value and a 12.75 per cent increase in the number of deals.
Business Post reports that investor sentiment was negative on Monday as a result of the decline recorded in 25 stocks in contrast to the growth recorded by 20 equities.
Africa Prudential was the worst-performing stock with a price decline of 9.59 per cent to settle at N6.60 per unit and was trailed by LASACO Assurance, which lost 9.52 per cent to trade at N1.52 per share.
Niger Insurance depleted by 8.70 per cent to sell for 21 kobo per unit, Lafarge Africa lost 8.00 per cent to quote at N23 per share, while Red Star Express declined by 7.42 per cent to close at N3.12 per unit.
Conversely, UPDC REIT ended the session as the biggest price riser as its share price went up by 9.35 per cent to settle at N5.85 per unit.
Consolidated Hallmark Insurance gained 9.09 per cent to sell for 36 kobo per share, Academy Press grew by 8.57 per cent to quote at 38 kobo per unit, Cornerstone Investment gained 7.81 per cent to sell for 69 kobo per share, while University Press appreciated by 7.50 per cent to end at N1.29 per unit.
For another session, FBN Holdings closed as the most active stock with the sale of 57.6 million units worth N419.7 million and was closely followed by United Capital, which transacted 27.4 million units valued at N167.3 million.
GTBank exchanged 26.9 million equities for N820.6 million, UBA transacted 25.2 million stocks for N211.0 million, while Zenith Bank traded 21.8 million shares worth N540.3 million.
For the performance of the sectors, only the banking and the energy counters appreciated yesterday it was by 0.19 per cent and 0.08 per cent respectively.
The industrial goods index fell by 0.55 per cent, insurance lost 0.13 per cent, while consumer goods depreciated by 0.08 per cent.
