The stock market on Monday started the week on a negative note as market capitalisation shed N76 billion or 0.32 per cent to close at N23.866 trillion compared with N23.942 trillion posted at the previous session.

The All-Share Index (ASI) also declined by 140.64 points or 0.32 per cent to 43, 818.12 from 43,958.76 on Friday.

As a result, the year-to-date (YTD) return fell to 2.63 per cent.

Sell-offs in stocks of MTN Nigeria drove the market’s weak performance.

A total of 187.09 million shares valued at N2.54 billion were exchanged in 3,324 deals.

Market breadth closed positive with 12 stocks on the gainers’ chart, while nine were on the losers’ chart.

FTNCocoa Processors led the gainers’ chart with 9.68 per cent to close at 34k per share.

Chip Plc followed with a rise of 6.90 per cent to close at 62k, while Mansard Insurance gained 5.88 per cent to close at N1.62 per share.

Also, Chams Plc rose by 4.17 per cent to close 25k, while Union Bank appreciated by 3.48 per cent to close at N5.95 per share.

Conversely, JohnHolt Plc led the losers’ chat with a depreciation of 9.88 per cent to close at 73k per share.

Scoa declined by 9.71 per cent to close at N1.58, while Prestige Insurances went down by 7.69 per cent to close at 36k per share.

Unity Bank fell by 5.26 per cent to close at 54k, per share. Also, Africa Prudential lost by 4.67 per cent to close at N5.10 per share.

(NAN)