Local stock market opens week bearish by 0.22 per cent

The Nigerian Stock market opens the week on a bearish note as the All-Share Index (ASI) dropped by 0.22 per cent on Monday to settle at 38,561.84 basis points.

The negative sentiments were attached to profit-taking from the stocks of Guaranty Trust Bank, Nigerian Breweries and International Breweries as they closed with 2.6 per cent, 5.3 per cent and 3.8 declines respectively.

Consequently, the Month-to-Date and Year-to-Date losses increased to -3.1 per cent and -4.2 per cent, respectively.

As measured by market breadth, market sentiment was negative, as 17 tickers lost relative to 16 gainers. On the chart, Regal Insurance and Livestock were the top losers of the day, after declining in shares value by 9.1 per cent and 8.5 per cent respectively, while Wapic Insurance and NNFM recorded the largest gains of the day with 10.0 per cent and 9.7 per cent gain in the value of their respective shares.

Performance across sectors was mixed, following gains in the Insurance and Oil & Gas indices, and losses in the Consumer Goods and Banking indices. The Industrial Goods index however closed flat.

Activities at the Nigerian Stock Exchange (NSE) was unimpressive as the total volume of trades declined by 37.2 per cent to 184.53 million units, valued at N2.52 billion and exchanged in 3,527 deals.

FBN Holdings was the most traded stock by volume and value at 31.14 million units and N252.97 million, respectively.


Local stock market opens

#EndSARS: As British Parliament Hears Petition, UK Govt Says It Won’t Speculate On Sanctions

The British Parliament at the Westminster Hall held a debate on ‘e-petition 554150, relating to Nigeria and the sanctions regime’ on Monday. The government of the United Kingdom has however responded…Local stock market opens

2023 Presidency: APC Govs’ Meeting With Jonathan Sparks Controversy

The surprise visit made on Friday night by the leaders of the ruling All Progressives Congress (APC) to former President Goodluck Jonathan at his residence in Abuja triggered a stir in the major political camps, resulting in at least four possible theories…

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More