Stock Market Drops ₦1.17 Trillion As Profit-Taking Drags Major Stocks
By FIDELUS ZWANSON
THE Nigerian stock market opened the week on a negative note as investors booked profits in key stocks, causing a ₦1.17 trillion decline in market capitalisation to ₦92.33 trillion. The All-Share Index also fell by 0.26% to 145,159.77.
Despite the downturn, market breadth was positive with 28 gainers and 24 losers. Sovereign Trust Insurance led the gainers, rising 9.97%, while Dangote Cement and Enamelware topped the losers’ chart with 10% declines each.
Total turnover dropped to 388.2 million shares valued at ₦31.14 billion, compared to Friday’s 4.89 billion shares worth ₦42.2 billion. Tantalizer traded the highest volume at 57.12 million shares, while ARADEL recorded the highest value at ₦21.5 billion.
