Stock opens with N74bn loss | Dailytrust

Stock opens with N74bn loss

Trading hall of the Nigeria Stock exchange, Lagos.
Trading hall of the Nigeria Stock exchange, Lagos.

The domestic equities market of the Nigerian Stock Exchange (NSE) posted a bearish performance to start the week as market capitalisation fell by N74.4 billion to settle at N21.7 trillion.

The All-Share index declined 34 basis points (bps) to 41,564.31 points as a result of profit-taking in Guaranty (-8.8 per cent), PZ (-9.7 per cent), and Champion (-9.8 per cent) while the year to date return declined to 3.2 per cent.

Activity level waned as volume and value traded fell 29.4percent and 52.7per cent respectively to 340.3 million units and N2.6bn.

The most traded stocks by volume were UBN (78.8m units), FBNH (54.2m units) and Access (34.0m units) while UBN (n457.1m), FBNH (N396.4m) and Zenith (N368.6m) led by value.

Performance across sectors was bearish as 4 of 6 indices closed southward.

Investor sentiment as measured by market breadth increased to 1.3x from the 0.4x recorded previously as 21 stocks gained against 16 losers.

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