The stock market started the month on a bearish note as the All-Share index dipped 1.53% to close at 25,816.57 index points on Monday compared to Friday’s figure of 26,216.46 points.
Investors were also faced with more losses as they parted with N208.32 billion. The Equity market capitalization, which opened at N13.67 trillion, shed 1.52% to close at N13.46 trillion.
Meanwhile, stocks of top Nigerian banks were heavily traded in the stock market as GTBank, Zenith Bank, UBA, Fidelity Bank and First Bank Holdings recorded total trades of 190.69 million units of shares at N3.17 billion, accounting for 52.6% of the total value of shares traded today.
GTBank was the most actively traded stock on the floor of the stock market on Monday as it traded in 93.69 million units of shares valued at N2.14 billion across 899 deals. Zenith Bank followed with trades in 44.19 million units of shares at N798.45 million across 805 deals and UBA recorded trades in 18.39 million units of shares at N121.26 million across 330 deals.
Fidelity Bank also recorded trades in 17.66 million units of shares at N32.27 million across 119 transactions while First Bank Holdings rounded off the list with trades in 16.76 million units of shares at N79.07 million across 302 deals.
Law Union Insurance was the best performing stock, as it recorded 10% increase to close at N0.99 followed by AIICO Insurance, which gained 7.79% to close at N0.83. Eterna Oil recorded 5.53% increase in stock value to close at N2.1, FCMB gained 5.26% to close at N1.8 while Courteville Business Solutions gained 5% to close at N0.21.
On the decliners list, Lafarge Africa alongside Nestle Nigeria, PZ Cussons and Unilever Nigeria all lost 10% to close at N13.95, N1,017, N4.05 and N13.5 respectively while Nigerian Aviation Handling Company rounded off the list with 9.96% loss to close at N2.35.
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