Nigerian stocks fell 0.06 per cent on Monday, its first time in seven days as investors took part of the profit that had heaped for a while.Market breadth, which measures investors’ sentiment, was negative as 26 losers emerged compared to 15 advancers.
“Given the expected higher yield environment, we anticipate that this will trigger asset rotation from PFAs, which could depress equity market performance,” said analysts at brokerage and investment bank United Capital in a note seen by PREMIUM TIMES.The all-share index declined by 29.08 basis points to 45,928.27, while market capitalisation dropped to N24.7 trillion. The index has been up 7.52 per cent since the start of the year.Living Trust led gainers, appreciating by 9.
Chams was the most active stock with 40.5 million units of its shares worth N8.1 million traded in 28 deals. UBA traded 35.1 million shares priced at N284.7 million in 200 transactions. Courteville had 33.3 million shares valued at N16.5 million traded in 103 deals. Sterling Bank traded 18.8 million shares estimated at N30.1 million in 86 transactions. Access Bank traded 17.1 million shares valued at N166.4 million in 194 deals.
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