The Nigerian Exchange’s All Share Index (ASI), on Monday, declined by 0.01 per cent amid sustained selling in most insurance companies.
Linkage Assurance, American International Insurance Company (AIICO) and Nigeria Insurance contributed to the decline.
In particular, at the close of transactions, the ASI recorded 47, 262.61 points, compared with 4, 268. 61 points were achieved on Friday, a decline of six points which represents 0.01 per cent.
A similar decline was observed in the overall market capitalisation value, which lost N4 billion to close at N25.471 trillion, from N25.475 trillion in the previous session.
Additionally, 16 stocks fell while 19 rose during the trading session.
In percentage terms, Niger Insurance led the losers chart, dropping 8.69 per cent to close at 0.21 per share.
AIICO lost 5.71percent to close at 66 kobo, while Linkage Assurance also lost 5.17percent to close at 55 kobo.
Seplat lost 4.26 per cent to close at N990 per share, while Africa Prudential dipped 4.41 per cent to close at N6.50.
In percentage terms, Cornerstone Insurance led the gainers’ table, gaining 9.38 per cent to close at 70 kobo per share.
FTNCocoa closed at 39k per share, up 8.33 per cent.
Honey Flour added 5.14 per cent to close at 3.89k, while Mutual Benefits Assurance gained four per cent to close at 26 kobo.
Jaiz Bank exchanged 72.46 million shares valued at N57.25 million during the day, the most traded stock by volume.
Access Bank exchanged 23.06 million shares valued at N236.41 million, while United Bank for Africa (UBA) changed hands with 19.99 million shares valued at N169.14 million.
A total of 15.87 million shares were sold by Transcorp at a price of N16.95million, while 15.35 million shares were exchanged by Guaranty Trust Bank Holding Company at a price of N398.02million.
Investors traded 291.88 million shares worth N2.85 billion in 3,467 transactions, representing a decrease of 62.76 per cent.
On Friday, 4,654 deals resulted in the exchange of 179.33 million shares worth N2.12 billion.