NGX ASI drops by 0.01% due to sell-off

The equities on Monday extended it losing streak with the All Share Index(ASI) dropping by 0.01 per cent as sustained sell-off was witnessed on most insurance companies.

They include Nigeria Insurance, American International Insurance Company (AIICO) and Linkage Assurance.

Specifically, at the close of transactions, the All-Share Index  recorded 47, 262.61 points, compared with the 4, 268. 61 points achieved on Friday.

This is a decline of six points which represents 0.01 per cent.

Similarly, the overall market capitalisation value lost N4 billion to close at N25.471 trillion from the N25.475 trillion at the previous trading.

Also, at the trading,16 stocks declined while 19 gained.

Niger Insurance topped the losers’ chart in percentage terms, shedding 8.69 per cent to close at 0.21 per share.

AIICO followed with a loss of 5.71 per cent to close at 66 kobo, while Linkage Assurance also shed 5.17per cent to close at 55 kobo per share.

Africa Prudential dipped 4.41 per cent to close at N6.50, while Seplat lost 4.26 per cent to close at N990 per share.

On the other hand, Cornerstone Insurance led the gainers’ table in percentage terms, gaining 9.38 per cent to close at 70 kobo per share.

 FTNCocoa gained 8.33 per cent to close at 39k per share.

Honey Flour gained 5.14 per cent to close at 3.89k, while Mutual Benefits Assurance added  four per cent to close at 26 kobo per share.

Jaiz Bank was the most traded stock in volume during the day, exchanging 72.46 million shares valued N57.25 million.

Access Bank followed with an exchange of 23.06 million shares worth N236.41 million, while United Bank for Africa (UBA) traded 19.99 million shares valued N169.14 million.

Transcorp sold 15.87 million shares worth N16.95million, while Guaranty Trust Bank Holding Company exchanged 15.35 million shares valued N398.02 million.

In all, investors traded 291.88 million shares valued N2.85 billion in 3,467 deals, representing a decrease of 62.76 per cent.

This was in contrast with a total of 179.33 million shares worth N2.12 billion exchanged in 4,654 deals on Friday.

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