Stocks market loses N17bn in fresh week | Dailytrust

Stocks market loses N17bn in fresh week

The equities market of the Nigerian Stock Exchange started the week on a bearish note as the market capitalisation declined N17.1 billion to settle at N21 trillion.

The benchmark index fell 8 basis points (bps) to 40,154.09 points following sell pressures in WAPCO (-8 per cent), Fidelity (-3.2 per cent) and UCAP (-5.5 per cent) while the Year to date loss worsened to -0.3 per cent.

Trading activity was mixed as volume dipped 6 per cent to 289.3 million units while value improved by 23 per cent to N3.6bn.

The most traded stocks by volume were FBNH (57.6m units), UCAP (27.4m units) and Guaranty (26.8m units) while Guaranty (N820.5m), Zenith (N540.3m) and MTNN (N464.7m) led by value. Investor sentiment as measured by market breadth weakened to 0.8x from the 0.9x recorded previously as 19 stocks advanced against 25 decliners.