Nigerian stocks dip by 0.10% amid profit-taking activity

The Nigerian stock market resumed trading on a negative territory as the All-Share Index moderated by 0.10 per cent to close at 38,686.40 points amid renewed profit-taking activities.

The market capitalisation also declined by 0.10 per cent to close at N20.16tn, leaving investors with a loss of N20.7bn.

At the close of Monday’s trading session, the year-to-date loss of the ASI rose to -3.93 per cent, even as the domestic bourse recorded 27 losers against 13 gainers.

The negative sentiment saw the share prices of Guaranty Trust Bank, Lafarge Africa, Unilever Nigeria, AIICO Insurance and United Bank for Africa moderate by 1.22 per cent, 1.22 per cent, 2.10 per cent, 2.61 per cent and 0.70 per cent respectively.

Sectoral performance was weak as four out of the five indices tracked closed in the red zone.

The banking, insurance, consumer goods and industrial indices fell by 0.86 per cent, 1.91 per cent, 0.09 per cent and 0.04 per cent respectively, while the oil and gas index rose by 0.31 per cent.

Trading activity was positive as total deals and volume of stock traded rose, thus the total volume of stocks appreciated by 5.87 per cent to 210.75 million units, valued at N1.499bn in 3,958 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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