The domestic equity market opened week in bearish run, declining by N500 billion as loss in highly capitalised stocks dragged the market down.
Market capitalisation of listed equity declined by 0.89 per cent to N55.823 trillion from N56.323 trillion reported the previous day.
The NGX All Share Index also depreciated by 883.84 basis points to 98703.68 points from 99587.25 points traded on Friday.
The negative performance was driven by decline in the shares of Airtel Africa, Transcorp, Stanbic, Nahco, United Capital which outweigh gain recorded in the stocks of Presco Plc, Zenith, Trans Hotel, Nascon, Oando among others.
As a result year to date return went down by 32.0 per cent as NGX printed 38 gainers over 18 losers
.An analysis of the investment showed that Guinea Insurance and Cornerstone Insurance led gainers table with 10 per cent each to close at N0.33 and N1.98 per share respectively, Oando Plc and Nascon followed with a gain of N9.94 per cent to close at N9.95 and N47.00 per unit respectively. Wema Bank added 9.42 per cent to close at N7.55 per cent.
On the contrary, Airtel Africa recorded highest loss at the close of trading on Monday, shedding 10 per cent to close at N1980.00, Berger Paint trailed with a loss 9.85 per cent to N12.35 per unit, IMG dipped by 9.82 per cent to close at N12.40 per share, International General Insurance down by 9.35 per cent to close at N1.26 per share while International Breweries fell by 9.00 per cent to close at N4.35 per unit.
Volume of trades declined by 24.845 million, representing 5.56 per cent as investors traded 421.727 million shares valued at N8.953 billion in 10624 deals against 446.572 million shares cost N7.100 billion in 9297 deals.
Transactions in the shares of AccessCorp led market activities with 98.234 million shares valued at N1.760 billion, United Bank for Africa followed with 40.395 million cost N1.071 billion, GTCO Plc traded 35.905 million shares worth N1.493 billion , Universal insurance company exchanged 30.397 million shares valued at N11.397 million, Zenith Bank sold a total of 26.903 million shares worth N982.145 million.
