Investors in Nigeria’s stock market lose N68 billion as weekly decline continues
The Nigerian stock market extended last week’s losses on Monday as investors shed N68 billion through sustained profit-taking.
The downturn was driven by 27 declining stocks, including NPF Microfinance Bank, Prestige Assurance, Sterling Nigeria and WAPIC Insurance.
Market capitalisation opened at N91.414 trillion but closed at N91.346 trillion, representing a loss of N68 billion or 0.08 per cent.
The All-Share Index also dipped by 0.08 per cent or 108.01 points to finish at 143,614.61. Consequently, the year-to-date return moderated further to 39.53 per cent.
Market breadth closed negative following 27 losers against 17 gainers across the session.
FG152028S1 led the losers’ table with a 69.39 per cent decline to N30 per unit. NPF Microfinance Bank followed with a 7.85 per cent loss, closing at N2.70 per share.
Prestige Assurance fell by 7.48 per cent, ending the session at N1.36 per share. Sterling Nigeria dropped by 6.94 per cent to N6.70, while WAPIC Insurance declined 6.18 per cent to N2.43 per share.
On the gainers’ side, Etranzact led with a 9.06 per cent rise, closing at N14.45 per share. International Energy Insurance gained 8.49 per cent to settle at N2.30 per share.
Mc Nicholas rose by 7 per cent to finish the session at N2.75 per share. Cileasing increased by 5.47 per cent, closing at N5.59 per share.
UPDC gained 5.26 per cent to end the day at N6 per share.
A total of 694.8 million shares, valued at N28.7 billion, were traded in 24,041 deals.
Guaranty Trust Holding Company recorded the highest volume and value, trading 203.85 million shares worth N17.24 billion.
(NAN)
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