With profit-taking causing the market capitalization to decrease N32 billion on November 1st, trading on the Nigerian stock market began on a negative note.
The All-Share Index declined 61.81 points to close at 41,976.79 index points as compared to 42,038.60 on Friday. Therefore, the year-to-date gain slowed to 4.2 percent.
This means that, after resuming for the month at N21.938 trillion, the market capitalization has lost N32 billion or 0.15% to close at N21.906 trillion.
Eterna, Dangote Sugar Refinery, Nigerian Breweries, Oando, and Ecobank Transnational Incorporated (ETI) were the affected companies with big and medium valuations.
As a result of the strong earnings turnout and domestic interest in the equity market, market pundits expect sustained gains this week.
There were 6384 trades worth N3.24 billion worth of shares traded, a decline of 66.6%
With 52.45 million shares traded at a value of N13.71 million, Mutual Benefits Assurance topped the activity chart.
FBN Holdings traded 27.55 million shares worth N299.82 million, followed by United Bank for Africa with 29.28 million shares worth N250.85 million.
In this manner, the market breadth closed negative with 32 losers versus 20 gainers.
Top 5 gainers
In percentage terms, Fidson Healthcare and Guinness Nigeria topped the gainers chart with 9.92% to close at N6.76 and N39.90 per share, respectively.
Ultimately, the stock closed at N0.24 per share with a gain of 9.09% for sovereign trust insurance.
Amico Insurance rose 8.87 percent to close at N1.35, while Regency Alliance Insurance appreciated by 8.11 percent to close at N0.40 per share
Top 5 losers
Among the losers, Eterna led by 9.94% to close at N7.79 per share.
A drop of 9.44% followed for UACN Property Development Company to close at N1.63, and a loss of 9.09% was seen for Courteville Business Solutions to close at N0.40
Honeywell Flour Mills plunged by 7.78% to close at N3.32 per share, as Oando shed 7.92% to close at N4.65.