Business a.m
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) saw a slight dip on Monday, reversing the upward trend from the previous session, as the index fell by 0.09 per cent to close at 101,995.21 points.
The sell-off in the shares of United Bank for Africa Plc (UBA), Access Corporation Plc (ACCESSCORP), and Dangote Sugar Refinery Plc (DANGSUGAR) helped to offset the gains in Guaranty Trust Holding Company Plc (GTCO), First Bank of Nigeria Holdings Plc (FBNH), and International Breweries Plc (INTBREW).
As a result, the market closed slightly lower, with the ASI down by 0.09 per cent and the market capitalisation down by ₦50.64 billion, to N55.81 trillion.
The market’s turnover increased significantly on Monday, as the total value of trades rose by 11.69 per cent from the previous session. A total of 294.32 million shares worth N6.72 billion were traded in 9,957 deals. First Bank of Nigeria Holdings Plc (FBNH) topped the volume chart, with 73.84 million shares changing hands in deals worth N2.42 billion.
The market breadth closed flat, with an equal number of advancing and declining stocks. Twenty-four stocks gained, with NASCON Allied Industries Plc (NASCON) leading the pack with a gain of 10.00 per cent. Twenty-four stocks also lost, with Nestlé Nigeria Plc (NESTLE) recording the largest decline of 10.00 per cent.
