Stock Exchange Closes Flat as Market Cap Remains at N24.112trn

By Dipo Olowookere

The domestic stock exchange closed flat on Monday, with the key performance indicators remaining intact, including the All-Share Index (ASI) and the market capitalisation, which finished at 44,269.43 points and N24.112 trillion, respectively.

The stalemate occurred amid a decline in the level of activity as the trading volume, value and number of deals depreciated by 85.37 per cent, 53.45 per cent, and 7.66 per cent apiece.

During the session, investors bought and sold 103.3 million stocks worth N2.1 billion in 3,206 deals compared with the 705.9 million stocks worth N4.6 billion transacted in 3,472 deals last Friday.

Zenith Bank ended the trading session as the busiest stock as it sold 15.1 million units. Geregu traded 11.1 million units, GTCO exchanged 8.9 million units, FBN Holdings traded 7.4 million units, and Access Holdings transacted 5.8 million units.

Business Post reports that the performance of the sectors was mixed on the first trading day of the week, with the banking space growing by 0.48 per cent, and the industrial goods sector appreciating by 0.01 per cent.

However, the insurance index depreciated by 0.81 per cent, the energy counter lost 0.74 per cent, and the consumer goods sector decreased by 0.04 per cent.

The market breadth finished negative yesterday as there were 18 price losers and 11 price gainers, indicating a weak investor sentiment.

The highest price gainer was Royal Exchange, which improved by 9.72 per cent to 79 Kobo, trailed by Cutix, which grew by 6.83 per cent to N2.19. United Capital appreciated by 5.73 per cent to N12.00, Linkage Assurance increased its value by 2.56 per cent to 40 Kobo, and Trans Nationwide Express gained 2.50 per cent to sell at 82 Kobo.

The heaviest price loser for the session was Learn Africa, which depleted by 9.52 per cent to N1.52, followed by RT Briscoe, which shed 9.09 per cent to close at 30 Kobo. Cornerstone Insurance also went down by 9.09 per cent to 40 Kobo, FTN Cocoa decreased by 8.82 per cent to 31 Kobo, and Caverton lost 8.05 per cent to finish at 80 Kobo.