Opening the week on Monday, traders on the Nigerian inventory market misplaced N750 billion from their portfolios as bearish sentiment persevered.
Particularly, selloffs within the shares of Dangote Cement, alongside Tier-one banks, particularly; Warranty Belief Holding Firm (GTCO),FBN Holdings, amongst different declined equities pulled the market’s efficiency down.
The market capitalisation which opened at N55.132 trillion, shed N750 billion or 1.36 per cent to shut at N54.382 trillion.
The All-Share Index additionally misplaced 1.36 per cent to shut at 95,781.68 factors, in opposition to 97,100.31 recorded on Friday.
Consequently, the 12 months-To-Date (YTD) return fell to twenty-eight.10 per cent.
Nevertheless, market breadth closed optimistic with 31 gainers and 19 losers.
On the gainers’ desk, Cutix Plc, RT Briscoe and Sky Aviation Dealing with Firm led by 10 per cent every to shut at N2.64, N1.87 and N26.40 per share, respectively.
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Oando adopted by 9.90 per cent to shut at N39.40, whereas FTN Cocoa Processors gained 9.57 per cent to shut at N2.06 per share.
On the flip aspect, Dangote Cement led the losers’ desk by 10 per cent to shut at N532, and Safe Digital Know-how trailed by 9.76 per cent to shut at 37k per share.
African Prudential dropped 9.68 per cent to shut at N8.40, Beta Glass shed 9.43 per cent to shut at N48 and Caverton declined by 6.38 per cent to shut at N1.32 per share.
READ ALSO; UPDATED: Gross sales of crude to Dangote in Naira begins October – Official
Evaluation of the market actions indicated that commerce turnover settled larger relative to the earlier session, with the worth of transactions up by 2.47 per cent.
A complete of three.55 billion shares valued at N7.65 billion had been exchanged in 9,291 offers, in comparison with 348.95 million shares valued at N7.46 billion exchanged in 7,677 offers posted within the earlier session.
In the meantime, GTCO led the quantity and worth charts with 59.25 million shares price N2.73 billion.
NAN
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