Investors Lose N162 Billion on Monday as Stock Market Closed in Red Again

Nigerian Stock Exchange (NSE) extended the bearish trend on Monday to close in the red.

The market capitalisation of listed equities depreciated by N146 billion from N12.695 trillion recorded on Friday to N12.549 trillion on Monday.

While NSE All-Share Index declined by 310.07 basis points or 1.27 percent from 24,336.12 bps it closed on Friday to settle at 24,026.05 bps on Monday.

Investors traded a total of 189.69 million shares in 4,216 transactions during the trading hours of Monday as 17 stocks closed negative with just 14 stocks closing in the green.

As usual, the banking subsector dominated in terms of volume traded with a total share of 73.18 million traded in 875 transactions. The renewed interest in the stocks of Guaranty Trust Bank Plc and Fidelity Bank Plc boosted the subsector.

Accordingly, the premium subsector was bolstered by activities of Access and United Bank for Africa as traders exchanged 54,73 million units in 1,580 deals during the hours.

Top Gainers

The Nigerian Aviation Handling Company Plc and Cornerstone Insurance Plc led the gainers’ chart with 10 percent each to close at 55 kobo and N2.20 per share, respectively.

This was followed by Zenith Bank’s 5.25 percent gain to settle at N16.05 per share. Flour Mills added a 5.11 percent gain to close at N18.50 per share.

Top Losers

Beta Glass Plc came first with a decline of 9.95 to settle at N61.55 per share. Julius Berger Plc followed with a loss of 9.81 percent to close at N16.55 per share. While Livestock Feeds Plc depreciated by 9.68 percent to close at 58 kobo a share.