Bearish Trend Continues as NSE Drops N111bn

stock market
  • Bearish Trend Continues as NSE Drops N111bn

Nigerian Stock investors lost N111 billion on Monday as the Nigerian Stock Exchange (NSE) extended losses ahead of President Buhari cabinet formation.

The market capitalisation of listed equities declined from N13.922 trillion it closed on Friday to N13.811 trillion on Monday.

NSE All-Share Index dropped 0.79 percent from 28,566.79 to 28,340.98.

Activity level was generally low on Monday, total stocks of 175 million worth N2.14 billion were traded in 3,111 deals.

Vitaform led gainers chart with 4.52 percent gain to close at N3.7 a share.

Followed by Conoil 2 percent gain to N20.4. While Nigerian Breweries, Dangote Flour and Nestle rose 0.86 percent, 0.57 percent and 0.24 percent, respectively.

Total top losers with a 7.14 percent decline to N130. Eterna Plc trailed total with 6.85 percent loss.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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