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Redstarex, UBA Fail to Lift Stock Market as MTNN, BUA, Zenith Close in Red



BUA stock

Stock Market Declines On Monday on Weak Market Sentiment

MTN Nigeria, BUA Cement and Zenith Bank led losers on Monday to drag down the Nigerian Stock Exchange (NSE).

The NSE All-Share Index declined by 0.91 percent from 25,182.67 basis points reported on Thursday, the last trading day before June 12 public holiday, to 24,954.32 basis points on Monday.

The market capitalisation of listed equities declined by N120 billion to settle at N13.017 trillion, down from N13.137 trillion recorded on Thursday.

The activity level was mixed as total shares of 237.652 million valued at N1.609 billion were exchanged in 4,808 transactions during the trading hours, against the 337.13 million shares investors exchanged in 3,880 deals on Thursday.

Despite Redstarex and Fidson leading the top gainers’ table with a 10 percent profit each, the market closed in the red. Also, UBA, Mansard and Maybaker added 4.07 percent, 8.11 percent and 0.11 percent profits, respectively.

MTN Nigeria led top losers with a 1.69 percent decline. BUA Cement followed with 1.81 percent decline while Zenith Bank, ETI and Glaxosmith added 2.7 percent decline, 7.34 percent decline and 5.33 percent decline.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.