Nigerian stocks fall as benchmark index sheds 0.22%

The Nigerian stock market began the week on a negative note as its All-Share Index dropped by 0.22 per cent to 38,561.84 on Monday.

Investors lost N45.33bn as the market capitalisation also fell by 0.22 per cent to close at N20.18trn.

At the close of the day’s trading, 18 stocks gained as against 17 losers.

The year-to-date loss of the ASI further rose to -4.24 per cent.

The banking and consumer goods indices fell by 1.01 per cent and 1.52 per cent respectively amid sell-offs in the shares of Guaranty Trust Bank, Zenith Bank, Nigerian Breweries, and Dangote Sugar Refinery.

Their respective share prices declined by 2.60 per cent, 0.70 per cent, 5.34 per cent and 2.23 per cent.

On the positive side, the insurance and oil and gas indices rose by 1.08 per cent and 0.66 per cent, while the industrial index closed flat.

Meanwhile, trading activity was weak as total deals, volume and value of stocks traded fell.

At the close of Monday’s trading, the total volume of trade declined by 37.23 per cent to 184.52 million units valued at N2.52bn in 3,527 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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