Bears swallow N34.33bn as NGX resumes week’s trading

Trading on the floor of the Nigerian Exchange Limited resumed this week on a negative note, after having closed last Friday’s session bearish to reverse Thursday’s gain.

The All-Share Index contracted by 0.19 per cent to close at 37,585.25 points on Monday, while the market capitalisation also moderated to close at N19.59tn after opening at N19.63tn.

Amid the bearish sentiment, investors lost N34.33bn at the close of the day’s trading session.

The year-to-date loss of the ASI rose to 6.69 per cent, as the gainers’ and losers’ table recorded that 18 stocks declined against 13 stocks that appreciated.

The domestic bourse witnessed a sell pressure on stocks such as Presco, Conoil, Zenith Bank, FBN Holdings and Africa Prudential as their share prices moderated by 1.84 per cent, 4.31 per cent, 0.63 per cent, 0.69 per cent and 2.42 per cent respectively.

Sectoral performance was positive as three out of the five indices tracked closed in the green zone.

The insurance, consumer goods and industrial indices increased by 0.22 per cent, 0.01 per cent and 0.07 per cent respectively, while the banking and oil and gas indices fell by 0.02 per cent and 0.35 per cent.

At the close of the day, trading activity was mixed as total deals and volume of stock traded fell.

The total volume of stocks declined by 19.34 per cent to 163.50 million units, valued at N3.44bn in 3,562 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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