The stock market experienced a 20.04 per cent decline in transaction value on Monday, March 25, 2024.

Dangote Sugar and 29 other equities led the charge toward a negative performance.

Trade turnover mirrored this trend, with 306.82 billion shares valued at N11.38 billion exchanged in 9,343 deals.

This also represents a drop when compared with 505.19 million shares valued at N14.24 billion, traded in 9,574 deals on Friday, March 22.

Notably, selloffs of Tier-one banks such as Guaranty Trust Holding Company (GTCO), FBN Holdings, and Zenith Bank, alongside Dangote Sugar and Ikeja Hotels drove this negative trajectory.

Consequently, the market capitalisation witnessed a decline of N289 billion or 0.49 per cent, closing at N58.879 trillion, down from the opening of N59.168 trillion.

The All-Share index declined by 0.49 per cent or 511.02 points, settling at 104,136.35, compared to 104,647.37 recorded in the previous session.

GTCO, Zenith Bank, FBN Holdings raise stock market by N147bn

The Year-To-Date (YTD) return slipped to 39.27 per cent.

Nigeria Infrastructure Debt Fund (NIDF) led the activity chart in volume with 35.55 million shares worth N4.05 billion.

Jaiz Bank followed closely with 23.16 million shares traded worth N52.6 million, and United Bank for Africa (UBA) traded 19.54 million shares worth N519.29 million

On the losers’ side, Dangote Sugar and International Energy Insurance led with a loss of N5.90 each to close at N53.10 and N1.35 per share, respectively.

Jaiz Bank shed 24k to close at N2.18, Ikeja Hotel declined by 63k to close at N5.85, while Deap Capital Management and Trust Plc lost 6k to close at 57k per share.

Conversely, Ellah Lakes Plc led the gainers’ table, adding 33k to close at N3.63, followed by Morison Industries Plc, which gained 14k to close at N1.55 per share.

SUNU Assurances gained 11k to close at N1.27, Caverton appreciated by 15k to close at N1.75, while Secure Electronic Technology Plc rose by 5k to close at 60k per share.

The Star