Stock Investors Enter March With N208bn Loss

Egypt Stocks
  • Stock Investors Enter March With N208bn Loss

Investors at the Nigerian Stock Exchange (NSE) on Monday lost a total sum of N208 billion as the uncertainty surrounding the exchange persisted.

The NSE All-Share Index opened the month of March with 399.89 basis points or 1.53 per cent decline from 25,816.57 bps it closed on Friday to 26,216.46 on Monday.

While market capitalisation of listed equities depreciated by N208 billion from N13.449 trillion recorded on Friday to N13.657 trillion on Monday.

Activity on the exchange floor was positive as 325.3 million shares were exchanged in 5,054 transactions. In the premium sub-sector 90.3 million shares were traded in 1,942 deals.

In terms of volume traded, the baking sub-sector dominated with 120.3 million shares exchanged in 1,181 transactions. The subsector was boosted by the impressive financial results released by the Guaranty Trust Bank Plc on Monday.

However, leading the gainers’ chart were Law Union and Rock Insurance Plc while AIICO Insurance Plc trailed them with 9.79 per cent to close at 83 kobo per share and Eterna Oil Plc gained 5.53 per cent to close at N2.10 per share.

About the Author

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

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