Fortis Global Insurance Plc led the losers on the Nigerian Exchange (NGX) on Monday after its share price declined 9.50 percent to close at N1.81.
The insurance company’s stock fell by N0.19 from its previous closing price of N2, making it the biggest percentage decliner during Monday’s trading session.
The decline came despite a positive performance in the broader equities market, where the NGX All-Share Index advanced 0.18 percent to 252,566.84 points.
Trans-Nationwide Express followed Fortis Global Insurance on the losers’ table, declining 8.47 percent from N2.95 to N2.70.
RT Briscoe fell 6.07 percent to N10.05 after closing the previous session at N10.70, while Wapic Insurance declined 6.03 percent from N2.32 to N2.18.
Omatek Ventures completed the five leading decliners with a 4.73 percent drop from N1.48 to N1.41.
Fortis Global Insurance’s decline also came after the stock recorded substantial trading activity during the previous week.
On Wednesday, September 23, 860.31 million Fortis Global Insurance shares worth N1.75 billion changed hands, accounting for more than half of the entire market’s trading volume that day.
Monday’s broader market, however, closed higher as equity market capitalisation increased by approximately N299.36 billion to N163.95 trillion from N163.66 trillion on Friday.
Investors traded 1.014 billion shares worth N39.02 billion across 61,517 deals, compared with 708.85 million shares valued at N58.35 billion in 42,496 transactions during the previous session.
On the gainers’ table, University Press Plc rose 9.89 percent to N5, while Critical Minerals Financing Corporation advanced 9.82 percent to N3.58.
ABC Transport gained 9.80 percent to N5.60, Eterna appreciated 9.62 percent to N42.75 and Sovereign Trust Insurance advanced 9.17 percent to N2.62.
Fortis Global Insurance ultimately closed Monday at N1.81 per share after losing N0.19, or 9.50 percent, making it the session’s leading equity decliner.
