Nigerian Equities Decline by N76 Billion in Market Open

On Monday, the Nigerian Exchange NGX opened the week on a negative note, with a decline of N76 billion in market capitalisation, bringing it down to N159.511 trillion from N159.587 trillion at the previous close. The NGX All Share Index decreased by 118.66 basis points, settling at 247238.74 points compared to 247357.40 points on Friday.

The day's trading was characterized by a predominance of losses, particularly in shares of TransPower, Stanbic IBTC, Access Holdings Company, and 29 other listed companies. The market breath was negative, with 27 advancers against 32 decliners, resulting in a year-to-date return of 58.88 percent.

Notably, CNIF led the gainers with a 9.95 percent increase, while TransPower and SUNU Insurance both experienced a 10 percent loss. Trading volume rose by 23.41 million shares, totaling 637.960 million, with transaction values increasing by 42.39 percent to N57.20 billion across 71240 deals.

Access Holdings Company led market activities with 47.574 million shares valued at N1.368 billion.