Stock market closes bearish with market capitalisation down N417bn

By Cynthia Ezekwe 

The Nigerian Exchange (NGX) closed negative on Monday  as  market capitalisation declined by  N417 billion to close at  N27,850 trillion.

The All-share Index (ASI) depreciated by 1.47 per cent  to close at 51,127.38 points.

Meanwhile,  a total of 226.5 million units of shares were traded in  4,373 deals, valued at N1.56 billion.

The  market breadth closed negative as IKEJAHOTEL led 16 gainers, and 18 equities that lost their share prices topped by CHAMPION.

IKEJAHOTEL led the gainers chart as it appreciated 9.48 per cent  to close at N1.27; INTENEGINS was up 9.47 per cent  to close at N 1.85; CHIPLC increased by 8.77 per cent to close at N 0.62; NGXGROUP gained 8.16 per cent to close at N26.50; while JAIZBANK was up 5.68 per cent  to close at N0.93.

On the contrary, CHAMPION topped the losers chart as it lost 9.94 per cent  to close at N4.44;  INTENEGINS was down  6.98 per cent  to close at N1.20; MTNN  shed 6.67 per cent  to close at N224.00; TRANSCOHOT depreciated 5.80 per cent  to close at N6.50; while AFRIPRUD declined by  5.45 per cent  to close at N5.20

At the end of trading activities on Monday, Year-to-Date (YtD) returns settled at 0.90 per cent, while the stock market has advanced by 468.28 basis points since the start of the year.