The Nigerian equities market opened the week on a negative note on Monday, with investors losing N1.315 trillion as profit-taking in large- and mid-capitalised stocks dragged prices lower.

As a result, the market capitalisation declined by 0.84 per cent, falling from N156.444 trillion at the start of trading to N155.129 trillion at the close.

The All-Share Index dropped by 2,049.65 points, or 0.84 per cent, to settle at 241,749.11, down from 243,798.76 in the previous session.

This led to the market’s year-to-date return easing slightly to 55.35 per cent, while market breadth closed negative, with 46 losers against 19 gainers.

PZ Cussons led the losers’ chart by 10 per cent, closing at N81. BUA Cement trailed by 9.99 per cent, finishing at N306.20, while Red Star Express dipped by 9.98 per cent, settling at N22.10 per share. RT Briscoe shed by 9.70 per cent, ending the session at N12.10, and Ci Leasing dropped by 9.38 per cent, closing at N5.80 per share.

Nigeria Infrastructure Debt Fund led the gainers’ chart with a 9.97 per cent gain, ending the session at N163.30. International Breweries followed by 9.77 per cent, finishing at N14.60, while Nigerian Aviation Handling Company gained by 8.36 per cent, closing at N177 per share.

Also, UAC of Nigeria grew by 8.11 per cent, settling at N199.95 per share, and Daar Communication rose by 6.67 per cent, finishing at N1.76 per share.

Market activity strengthened during the session, as total volume traded advanced by 18.66 per cent to 523.54 million, valued at N22.28 billion across 59,945 transactions.

Meanwhile, FCMB recorded the highest volume, with 102.24 million shares traded, accounting for 19.53 per cent of the day’s volume.

Seplat recorded the highest value at N3.62 billion, accounting for 16.23 per cent of the day’s trading.

(NAN)