Stocks open week bearish as investors loss N24.8bn

Bears emerged in the domestic bourse as the market opened the week’s trading in the red region Tuesday with the Nigeria Exchange ( NGX) All-Share Index shed 4 basis points to close the day, reaching 104,518.14 points compared to the previous session’s 104,562.06 points.

The market’s negative performance was driven by investors’ profit-taking activities in major stocks such as FBNH (-2.11%) STANBIC (-1.79%), NB (-0.85%), TRANSCORP (-1.41%) and 13 additional stocks.

As a result, the year-to-date return decreased to 39.78%.

Consequently, the overall market capitalization experienced a 0.04% decline, reaching N59.09 trillion, as investors lost N24.83 billion.

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Market activity for the day was negative as volume and value traded declined by 12.45% and 13.81% to 545.49 million units and N14.61 billion, respectively.