NGX opens week on negative posture, down 3.15%

Meanwhile, the market breadth closed negative with 36 declining stocks and 16 that appreciated.

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NGX opens week on negative posture, down 3.15%Transactions resumed on the Nigerian Exchange Ltd. (NGX), on Monday, on a negative posture with the market indices declining by 3.15 per cent due to selloffs.

Specifically, the market capitalisation which opened at N57.849 trillion, shed N1.82 trillion or 3.15 per cent to close at N56.028 trillion.
Similarly, the All-Share Index(ASI) also dropped by 3.15 per cent or 3,330 points to settle at 102,393.23, compared to 105,722.78 achieved on Friday.
As a result, the ASI Year-To-Date (YTD) return fell to 36.94 per cent.

The market was dragged down due to selloffs in the shares of MTN Nigeria, Dangote Cement and Zenith Bank.

On the losers’ table, MTN and Dangote Cement led in percentage of 10 each to close at N247.50 and N686.70 per share, respectively.
NGX Group trailed by 9.76 per cent to close at N22.20, NEM insurance dropped 9.74 per cent to close at N6.95, while Tantalizers lost 9.52 per cent to close at 38k per share.
On the contrary, Juli Plc led the gainers’ table by 9.52 per cent to close at N1.61.
Dangote Cement followed with an increase of 8.64 per cent to close at 88k per share.
Sunu Assurances garnered 6.74 per cent to close at N1.90, while ABC Transport gained 6.67 per cent to close at 96k per share.
Nigerian Aviation Handling Company Plc (NAHCO) also appreciated by 5.86 per cent to close at N30.70 per share.
On the activity chart, Guaranty Trust Holding Company(GTCO) led with a trade of 28.85 million shares valued at N1.13 billion.
Also, Transcorp sold 20.14 million shares worth N275.93 million, while Access Holdings traded 15.90 million shares worth N359.5 million.
FBN Holdings sold 15.87 million shares worth N450.74 million and Zenith Bank transacted 15.84 million shares valued at N568.04 million.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 7.58 per cent.
Meanwhile,  273.85 million shares valued N7.44 billion were exchanged in 9,688 deals, compared to 342.52 million shares worth N8.05 billion in 8,395 deals on Friday.
Meanwhile, the market breadth closed negative with 36 declining stocks and 16 that appreciated.