Emmanuel OchayiIn a day marked by significant market fluctuations, investors in the Nigerian capital market found themselves grappling with losses totaling N241.8 billion by the close of trading on Monday.
This economic setback was primarily driven by a 0.65 percent plunge in market capitalization, which dropped from N36.84 trillion to N36.60 trillion as the final bell rang.
Join our WhatsApp ChannelThe All-Share Index mirrored this decline, falling by 441.95 basis points to conclude the session at 66,882.64.
This downturn marked a notable departure from the 67,324.59 ASI achieved by the market last Friday.
Trading activity also exhibited its fluctuations, with investors trading 408.19 million shares valued at N5.44 billion across 7,707 deals on Monday.
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While these figures remain substantial, they fell short of the previous trading day’s performance when shareholders exchanged 1.02 billion shares worth N4.35 billion in 6,370 deals.
In terms of stock performance, Ikeja Hotel took the lead among gainers, with its share price rising by N0.25 kobo, climbing from N2.50 kobo to N2.75 kobo per share.
John Holt followed closely, posting a gain of N0.16 kobo, closing at N2.75 kobo, above its opening price of N2.50 kobo per share. Cornerstone also saw its share price rise by N0.13 kobo, moving from N1.37 kobo to N1.50 kobo per share.
Regal Insurance recorded an impressive 8.57 percent gain in share price, going from N0.35 kobo to N0.38 kobo per share, while Tantalizer’s share value increased by 6.67 percent, finishing at N0.32 kobo from N0.30 kobo per share.
On the flip side, Caverton Helicopters took the unfortunate lead among the losers, shedding N0.15 kobo to drop from N1.52 kobo to N1.37 kobo per share.
Access Corporation’s share price also saw a notable decline, dropping by N1.70 kobo to end trading at N15.55 kobo from N17.25 kobo per share. Oando experienced a loss of N1.15 kobo, closing at N10.70 kobo from N11.85 kobo per share, while TIP saw its share price dip by N0.11 kobo, falling from N1.14 kobo to N1.03 per share.
RT Briscoe faced a 9.52 percent loss in share price, with its shares dropping from N0.42 kobo to N0.38 kobo each during trading.
The top performers in terms of trading volume included Access Holdings, with 113.39 million shares valued at N1.78 billion, followed by UBA with 59.61 million shares worth N104.93 million.
Unity Bank traded 27.79 million shares worth N28.42 million, Universal Insurance saw 17.57 million shares valued at N3.90 million change hands, and Transcorp traded 16.78 million shares valued at N103.69 million.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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