The rebound, which the capital market recorded last week Friday after weeks of consecutive losses, collapsed at the close of Monday’s trading.
The Nigerian Stock Exchange’s market capitalisation and All-Share index were down by 0.36 per cent each.
Over N16.52 billion was lost at the capital market after Monday’s trading, to close at N4.57 trillion down from the N4.58 trillion recorded on Friday.
The All-Share Index closed at 20,296.67 basis points; 73.39 units down from its previous record of 20,370.06 basis points.
The Group Managing Director at Dominion Trust Limited, Wale Dada, said that the rebound collapsed because “the market still lacks confidence for recovery sustainability.”
“There is no liquidity in the market,” Mr. Dada said. He, however, explained that the downward trend witnessed by the market was due to excess supply without a corresponding demand.
At the close of trading on Monday, a total of 492,107,850 stocks, valued at N2.80 billion in a record of 5,851 deals were traded. A sum of 37 stocks appreciated in price, while 36 stocks depreciated in price.
Nestle Nigeria Plc led the price gainers’ chart, appreciating by N1.00, to close at N141.00 per share. Flour Mills Nigeria Plc followed, gaining 67 kobo on its opening price of N13.50, to close at N14.17 per share.
Cadbury Nigeria Plc and Ashaka Cement Plc gained 41 kobo and 35 kobo, to close at N8.96 and N8.00 per share respectively.
Mobil Oil Nigeria Plc topped the price losers’ chart, depreciating by N4.81, to close at N92.09 per share.
African Petroleum Plc followed by shedding N2.70 on its opening price of N54.18, to close at N51.48 per share, while RT Briscoe Plc and Oando Oil Plc lost 77 kobo and 60 kobo, to close at N14.67 and N66.00 per share respectively.
Measuring by volume, the banking sub-sector led on the most activity chart with 423,827,105 units of shares, worth N2.53 billion in 2,924 transactions.
Volume in the sub-sector was driven by trading in shares of Intercontinental Bank Plc, Spring Bank Plc, and First City Monument Bank Plc.
The insurance sub-sector followed with investors exchanging 39,539,418 shares, worth N58.12 million in 548 deals.
Custodian and Allied Insurance Plc, Universal Insurance Company Plc, and Investment and Allied Assurance Plc drove the sub-sector’s volume.
The conglomerates sub-sector was third with 5,973,550 shares traded, worth N11.90 million in 108 deals.
Transnational Corporation Plc, Unilever Nigeria Plc, and PZ Cussons Nigeria Plc drove the conglomerates sub-sector’s volume.