Hopes of making more money was put aside as Nigeria’s stock market started the new trading week on a wrong footing with its All Share Index (ASI) dropping 0.07 per cent to close at 24,269.58 points.
The market’s negative performance was attributed to losses in the shares of Tier-1 banks – Zenith Bank, Access Bank and Oando. This then resulted to about N1 million shaved off market capitalisation which settled at N12.660 trillion from an opening value of N12.670 trillion.
At the close of transactions yesterday, 13 stocks appreciated in value, while 12 others depreciated.Neimeth topped the losers’ chart with 10 per cent to close at N1.35 per share, while Cutix followed with 9.89 per cent to close at N1.N15, Chams dropped 4.35 per cent to close at 0.22 kobo, Lasaco lost 3.85 per cent to close at 0.25 kobo while Sterling Bank fell 3.20 per cent to close at N1.25 .
GlaxoSmithKline topped the gainers ‘ chart with 9.47 per cent to close at N5.20 per share. Fidson was next with 9.43 per cent to close at N2.90, Linkage Assurance rose 9.38 per cent to close at 0.35 kobo, Unity Bank garnered 8.89 per cent to close at 0.49 kobo, while Ardova gained 7.17 per cent to close at N13.45.