NSE: Investors lose N12bn on bearish trade

The market indicators of the Nigerian Stock Exchange (NSE) closed trading on Monday with a decline of 0.12 per cent.

The market capitalisation which opened at N9.718 trillion decreased by N12 billion or 0.12 per cent to close at N9.706 trillion.

Also, the All-Share Index dropped by 35.08 points to close at 28,078.30 points against 28,113.38 recorded last Friday.

Market analyst attributes the day’s decline to profit taking by investors following a bullish trend recorded in four previous trading sessions.

The day’s performance reduced the Month-to-Date and year-to-Date gain to 9.01 percent and 4.48 per cent respectively.

Eco transnational Incorporated ETI, recorded the highest loss to lead the losers chart,  dropping by five per cent to close at N9.31 per share.

Cadbury trailed with a loss of 4.98 percent to close at N10.12 and NEM dipped 4.85 per cent to close at 98 Kobo per share.

Honeywell Flour Mills was down by 4.72 percent to close at N1.21 while Redstarex dropped by 4.54 per cent to close at N4.21 per share.

On the other hand, Dangote Flour Mills led the gainers table,  growing by 6.37 per cent to close at N4. 34per share.

Cement Company of Northern Nigeria came second with a gain of 5 percent to close at N4.83, while PZ also appreciated by five per cent to close at N18.90 per share.

Vitafoam gained 4.78 per cent to close at N2. 41 and Lawunion rose by 4.76 per cent to close at 88k per share.

Despite Market breadth being positive, with 27 gainers versus 17 losers, Total volume traded declined by 31.91 per cent  to 208.34 million shares, valued at N3.74 billion, and exchanged in 3,498 deals.