Equities mkt cap sheds N3.34bn amid profit taking by investors



Uba Group

The market capitalisation of the Nigerian Exchange Limited dropped N3.34 billion to close at N30.39 trillion on profit-taking activities by investors on Monday.

As a result, the ASI’s year-to-date (YTD) return fell to 8.85 percent.

Opening the week, the Lagos bourse ended mixed with a bearish tilt as the benchmark Index shed 0.01 percent to settle at 55,788.37 points. Gains in BUAFOODS (+4.21%) were offset by losses in ZENITHBANK (-3.10%), GTCO (-1.89%) and WAPCO (-1.52%).

Analysis of Monday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 70.36 percent. A total of 179.03million shares valued at N2.55 billion were exchanged in 4,296 deals. NGXGROUP (-9.72%) led the volume and value charts with 38.15million units traded in deals worth N994.55 million.

Market breadth closed negative at a 1.89-to-1 ratio, with declining issues outnumbering advancing ones. NGXGROUP (-9.72%) topped sixteen (16) others on the laggard’s log, while MULTIVERSE (+5.04%) led eight (8) others on the leader’s table.