diminished 0.36 per cent on Monday, extending their haul of consecutive losses to three, as traders and investors were more intent on selling shares than owning them.
The plunge cast a gloom on the possibility of equities posting consistent daily gains until the floodgate of earnings results, a key catalyst for price movement, is opened.Tier 1 heavyweights Zenith and FBN Holdings steered the pullback alongside wireless operator MTNN as the proximity of earnings report failed to draw fresh capital to the market.
Market breadth, which weighs the level of investors’ confidence in the market, closed on a positive note as 16 gainers emerged compared to 13 losers. The all-share index expanded 136.30 points to 37,857.89, while market capitalisation closed at N19.725 trillion.Tripple Gee led the gainers’ chart, appreciating by 9.89 per cent to close at N1. Regal Insurance went up by 8.89 per cent to N0.49. UPDC rose to N1.30, notching up 7.44 per cent in the process.
FTN added 5.88 per cent to end today’s trade at N0.36. Mutual Benefit completed the top 5, climbing by 5 per cent to N0.42.
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