Stock Investors Lose N27.6b on Monday

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  • Stock Investors Lose N27.6b on Monday

Investors in the Nigerian Stock Exchange Market (NSE) lost N27.6 billion on Monday as the bearish trend persists amid weak economic growth.

NSE market value dropped by N27.6 billion from N13.207 trillion recorded on Friday to N13.179 trillion on Monday. While the All Share Index dipped by 0.21 percent to 27,089.84 basis points.

Similarly, activity level declined on the bourse as volume traded dipped by 6.7 percent to 290.491 million shares while the total value traded weakened by 33.3 percent to N4.29 billion.

GTBank led top traded stocks by volume with 128.5 million units. Followed by FBN Holdings Plc and Transnational Corporation of Nigeria Plc with 41,8 million units and 32.9 million units, respectively.

Again, GTBank led top traded stocks by value, N3.4 billion worth of shares were exchanged during the day; FBN Holdings, N183.5 million; and Access Bank Plc, N162.7 million.

The sectoral analysis shows only three sectors closed in the green on Monday.

The oil and gas sector led gainers with 2.7 percent gain as global oil prices sustain bullish run following Saudi Arabia comments on commit to OPEC cuts.

The banking sector rose by 0.5 percent as gains recorded in GTBank and FBN boosted the sector.

Increased interest in MTN Nigeria bolstered AFR-ICT Index, the ICT sector grew by 0.02 percent.

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

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