The Nigerian stock Market experienced a decline on the first trading day of the week on Monday following the broader global market downturn.
This decline resulted in a N93bn loss in market capitalisation which now stands at N55.40tn.
The All-Share Index fell to 97,582.41 points, down 0.17 per cent from the previous close of 97,741.86 points.
The day trading saw 9,738 transactions totalling N6.217bn, with 324.02m units of shares exchanged. The market breadth was negative, as 23 equities gained while 25 equities saw their prices drop.
Among the top gainers were International Breweries, Presco Plc, and Sovereign Trust Insurance, each posting a 10 per cent increase to close at N4.62, N485.10, and N0.55, respectively.
Conversely, Chams Plc led the losers with a 10 per cent decline to close at N1.98, followed by University Press Plc, which shed 9.92 per cent to close at N2.18, and The Initiate Plc, down 8.26 per cent to end at N2.
The trading volume saw a 54 per cent increase to 324.02m shares, and the number of deals rose by 47 per cent to 9,738. Zenith Bank recorded the highest volume of 37m traded shares, with United Bank for Africa, Veritas Kapital Assurance, and Oando following with 35m, 25.5m, and 20.3m shares, respectively.
This downturn in the Nigerian market is part of a larger global trend. International share markets also tumbled on Monday as investors reacted to fears of a potential recession in the United States.
