Investors lose N35bn in bearish market | Dailytrust

Investors lose N35bn in bearish market

Trading on the floor of the Nigerian Stock Exchange (NSE) resumed the new week on a bearish note  due to sell-pressure in blue-chips  such as MTNN (-1.0percent), Dangote Cement (-0.7percent) and Flour Mill  (-7.1percent).

Consequently, the All-Share Index dropped 27bps to settle at 25,132.67 points.

Market capitalisation fell to ₦13.1 trillion as investors lost ₦35.0 billion while year to date loss worsened to -6.4percent.

Activity level waned as volume and value traded fell 65.9percent and 57.9percent respectively to 258.1m units and ₦1.7bn.

Performance across sectors was mixed as 3 of the 6 indices under review gained. The AFR-ICT index lost 52bps to lead the losers, following sell-offs in MTNN (-1.0percent).

On the part of corporate action, Flour Mills Nigeria Plc released it Q1:2020 Unaudited Financial statement to the exchange which revealed that revenue advanced 14.7percent y/y to settle at ₦154.6bn while PAT rose 17.3percent y/y to ₦5.0bn.