The Nigerian Exchange limited recorded a 38.22% basis point loss in its stock market on Monday, OduNews reports.
Basis points, otherwise known as bps or “bips,” are a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument.
The All Share index fell by 38.22 basis points or 0.07 per cent to close at 51,791.45 basis points, while the market capitalisation lost N21 billion to close at N27.921 trillion.
The fall recorded is a result of losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Conoil, Lafarge Africa, Red Star Express and Cutix Plc.
Also, market breadth closed negative, with 18 losers versus 17 gainers. Fidson Healthcare recorded the highest price gain of 9.82 per cent to close at N12.30, per share.
Learn Africa followed with a gain of 9.78 per cent to close at N2.47, while UACN Property Development Company (UPDC) rose 9.71 per cent to close at N1.13, per share.
Prestige Assurance went up by 8.33 per cent to close at 37 kobo, while Regency Alliance Insurance appreciated by 7.69 per cent to close at 28 kobo, per share.
Conoil led the losers’ chart by 9.90 per cent to close at N25.95, while R.T. Briscoe Nigeria and Red Star Express followed with a decline of 9.09 per cent each to close at 40 kobo and N2.50 respectively, per share.
Cutix lost 7.69 per cent to close at N2.28, while Unity Bank shed 6.69 per cent to close at 42 kobo, per share.
However, the total volume traded rose 52.82 per cent to 194.121 million shares, worth N2.822 billion, and traded in 4,899 deals.
Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 25.074 million shares valued at N31,770 million.
Guaranty Trust Holding Company (GTCO) followed with 20.176 million shares worth N413.020 million, while United Bank for Africa (UBA) traded 17.594 million shares valued at N131.221 million.
AIICO Insurance traded 13.608 million shares valued at N8.323 million, while FBN Holdings (FBNH) transacted 11.634 million shares worth N131.920 million.
