Nigerian stock market begins week negatively as investors record N81bn in losses

The Nigerian stock market on Monday began the week in bearish territory as investors recorded an N81 billion loss. 

This comes as Nigerian Exchange Limited market capitalization declined by 0.05 percent, or N81 billion, on Monday, from N160.443 trillion to N160.362 trillion.

Similarly, the All-Share Index fell from 250,330.92 to 250,204.83, shedding 126.09 points, or 0.05 percent.

Year-to-date return decreased to 60.79 percent, while market breadth closed negative with 36 losers and 33 gainers.

NCR Nigeria and Zichis Agro-Allied Industries led the losers’ chart by 9.99 percent each, settling at N161.20 and N26.49 per share, respectively.

Industrial and Medical Gases declined 9.93 percent to N38.10, while Sovereign Trust Insurance dipped 9.86 percent to N2.65.

Daar Communications shed 9.78 percent, settling at N2.03 per share.

On the gainers chart, Oando and University Press led by 10 percent each, closing at N51.70 and N5.50 per share, respectively.

Following that, Deap Capital Management gained 9.96 percent, May and Baker rose 9.94 percent, and Trans-Nationwide Express was up 9.92 percent, finishing at N5.96, N52, and N7.76.

Meanwhile, NCR Nigeria, Zichis Agro Allied Industries, Industrial and Medical Gases, Sovereign Trust Insurance, and Daar Communications, plus 31 equities, dragged the market into negative territory.

In another shade of analysis, market activity declined at the close of trading, with total volume traded dropping 26.16 percent to 800.46 million shares valued at N37.05 billion across 87,096 deals.

United Bank for Africa recorded the highest trading volume with 64.97 million shares, accounting for 8.12 percent of the day’s total volume.

Aradel Holdings posted the highest trade value at N6.15 billion, representing 16.60 percent of the total value traded for the day. 

Nigerian stock market begins week negatively as investors record N81bn in losses