Investors lost N622 billion at the close of trading on Monday as sell‑offs hit telecom and banking stocks. The All‑Share Index opened at 54,892.53 and fell 2.08 percent, closing at 53,750.77. Market capitalisation also declined by 2.08 percent to N29.281 trillion.
Trading volume reached 100.882 million shares, valued at N4.342 billion, across 3,279 deals on the Nigerian Exchange Limited. Market breadth indicated worsening sentiment: only five stocks were gainers while 21 declined.
The five gainers were Courtville (+6.67 percent, closing at N0.45), NPF Microfinance (+2.70 percent, N1.90), AIICO (+1.75 percent, N0.58), First Bank Holdings (+0.92 percent, N11.00) and Zenith Bank (+0.20 percent, N25.00). Among the losers, NCR fell 9.79 percent to N2.12, Unity Bank dropped 9.43 percent to N0.48, and Prestige declined 8.89 percent to N0.41.
In terms of value, MTN Nigeria was the most traded, with 8.264 million shares worth N1.926 billion exchanged in 414 deals. Seplat saw 690,499 shares traded for N794.055 million in 32 deals, while Airtel Africa had 256,505 shares change hands for N363.814 million across 21 deals.
Analysts at Afrinvest Securities Limited projected that the bearish trend would continue, citing weak investor sentiment.
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