The bears pulled down the equities trading on the Nigerian Stock Exchange on Monday, as more investors sold their holdings.
The All Share Index depreciated 0.47 per cent to close at 27,103.38 points, compared to the decline of 0.19 per cent to close at 27,232.62 points.
Market capitalization shed N47 billion to close at N9.308 trillion, compared to the drop of N19 billion recorded on Friday to close at N9.353 trillion.
Stock analysts at United Capital noted that as the market continues to grapple with poor macroeconomic backdrop and uncertainty in the foreign exchange space, the expect is expected to post a lackluster performance this week.
“That said, the market will likely see some bargain positioning midweek as investors fish for lowly priced stocks,” the firm said.
Unilever Plc led gainers for the day, from the opening value of N32.00 per share to close at N33.02 points, having added N1.0.
Forte Oil came second with price appreciation of N0.99 to close at N197.99 per share, from the N197 per share.
Guiness Nigeria, which opened the day trading at N97.65 per share closed at N98.00, having added N0.35.
Access Bank was the fourth most appreciated stock of the day as it added 0.23 to move from N5.52 to N5.7, while Champion Breweries came fifth with price appreciation of N0.16 and from its opening value of N2.71, it closed at N2.87.
On the other hand, Nestle which opened at N779.98 closed at N757 having recorded price depreciation of N22.98.
It was followed by WAPCO, which closed N76.5 per share, from opening value of N80.01 as it dropped N3.5.
Dangote Cement which opened at N165 closed at N163.8 as it was marked down by 1.2; Cadbury closed at N18.00 from its opening value of N18.51 having depreciated by N0.51 while International Breweries dropped N0.48 to close N19.50 from its opening value of N19.98.
FBN Holdings was the most traded stock as it accounted for 40.1million shares valued at N151.1 million, while FCMB followed with 19.1 million shares valued at N30.6 million shares.
Zenith Bank traded 11.5million shares with the value attached of N166.0 million, while UBA traded 9.8 million shares valued at N42.1million.
Access traded 9.0 million shares with the value attached of N51.4 million.
In all, investors on the Nigerian Stock Exchange traded 152.33 million shares valued N2.3 billion in 3,406 deals.