Market capitalisation continues to fall, losing $622 billion

The market breadth was negative, with 21 stocks losing compared to five winners. The domestic stock market on Nigeria Exchange Ltd. (NGX) continued to fall on Monday, with the market capitalisation falling by 622 billion due to profit-taking. As a result, investors lost 622 billion as market capitalisation fell to N29.281 trillion from N29.903 trillion the previous session. The All-Share Index (ASI) fell by 1,141.76 points, or 2.08 percent, to close at 53,750.77 points, down from 54,892.53 points on Friday. As a result, the ASI's year-to-date (YTD) return has dropped to 4.88 percent. The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Airtel Africa, Seplat Energy, MTN Nigeria Communications (MTNN), Nigerian Breweries and Lafarge Africa.