Investors lose N74.4bn on sustained bearish activity

Equities market on Monday traded southward, as negative sentiments dominated the market, extending from last week’s bearish activity.

At the close of the day’s trading, the Nigerian Stock Exchange All Share Index moderated by 0.35 per cent to 41,564.31 points.

Also, the market capitalisation dropped by 0.35 per cent to close at N21.74bn as investors lost N74.4bn

The domestic bourse, however, recorded 23 gainers and 16 losers; hence, the Year-to-Date gain of the ASI lowered to 3.21 per cent.

Notably, Monday’s decline was impacted by profit-taking in medium and large capitalised stocks.

Share prices of Guaranty Trust Bank Plc, Flour Mills of Nigeria Plc, Unilever Nigeria Plc and AIICO Insurance Plc fell to 3.15 per cent, 1.43 per cent, 2.05 per cent and 2.48 per cent respectively.

Sectoral performance was weak, as four of the five indices tracked closed in red, save the NSE industrial index that rose by 0.05 per cent.

The banking, insurance, consumer goods and oil and gas indices fell by 2.68 per cent, 0.84 per cent, 0.26 per cent and 0.01 per cent respectively.

Meanwhile, activity in the market remained weak, as total volume of stocks declined by 29.43 per cent to 0.34 billion units, while total value of stocks also dipped by 52.68 per cent to N2.6bn.

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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