The stock market witnessed a 20.04 per cent downfall in transaction value on Monday with Dangote Sugar and 29 other equities leading the charge towards a negative performance.
306.82 billion shares valued at ₦11.38 billion exchanged in 9,343 deals which represents a drop when compared with 505.19 million shares valued at ₦14.24 billion which traded in 9,574 deals on Friday.
Alongside Dangote Sugar and Ikeja Hotel, Guaranty Trust Holding Company (GTCO), FBN Holdings, and Zenith Bank played a huge part in the downfall.
As a result, the market capitalisation experienced a massive decline of ₦289 billion or 0.49 per cent, closing at ₦58.879 trillion, down from the opening of ₦59.168 trillion.
In the same vein, 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 at the previous session.
The Year-To-Date (YTD) return slipped to 39.27 per cent.
Nigeria Infrastructure Debt Fund (NIDF) led the performance chart in volume with 35.55 million shares worth ₦4.05 billion.
Jaiz Bank followed closely with 23.16 million shares traded worth ₦52.6 million, and United Bank of Africa (UBA) traded 19.54 million shares worth ₦519.29 million.
On the losers’ side, Dangote Sugar and International Energy Insurance topped with a loss of ₦5.90 each to close at ₦53.10 and ₦1.35 per share, respectively.
Jaiz Bank lost 24k to close at ₦2.18, Ikeja Hotel declined by 63k to close at ₦5.85, while Deap Capital Management and Trust Plc shed 6k to close at 57k per share.
However, Ellah Lakes Plc led the gainers’ table, adding 33k to close at ₦3.63, followed by Morison Industries Plc, which gained 14k to close at ₦1.55 per share.
SUNU Assurances gained 11k to close at ₦1.27, Caverton appreciated by 15k to close at ₦1.75, while Secure Electronic Technology Plc rose by 5k to close at 60k per share.