The Nigerian Equities extends bearish stance into a new week with -1.27 per cent as investors lose N161.75 billion on Monday as the market capitalisation settled at N12.874 trillion.
Consequently, the Nigerian Stock Exchange’s All Share Index (NSE ASI) closed lower at 24,026.05bps, 1.27 per cent loss from last trading day of the previous week, leaving the Year to date Return at -10.49 per cent.
Similarly, the market breadth closed in the south zone with 13 tickers closing in green against 17 losers.
All Sectoral Indices went south aside Financial Sector owing to price gain in AIICO Insurance, Zenith Bank and Guaranty Trust Bank.
On the performance chart, Cornerstone Insurance, NAHCO, Zenith Bank, Flour Mills of Nigeria and AIICO Insurance led the gainers, while at the rear of the chart, Beta Glass, Julius Berger, Livestock, Prestige Insurance and Unity Bank led the team.
On Monday, a total of 189 million shares worth 2.78 billion in value were traded, a 31.44 per cent and 82.91 per cent gain from the previous session.
Guaranty Trust Bank, Access Bank, United Bank for Africa, FBN Holdings and Zenith Bank ended the trading day as top performers in terms of volume, while Guaranty Trust Bank, Nestle Nigeria, Seplat, Access Bank and Dangote Cement made up the top five performers in terms of the value of units traded.
Analysts at APT Securities, however, expect a slow down in market activity in a short while before positive rally picks up in mid to long term owing to anticipating half-year earnings release.
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