Stock Investors Lose N59bn on Monday

Nigerian Stock ExchangeNigeria Stock Exchange
  • Stock Investors Lose N59bn on Monday

Investors in the Nigerian Stock Exchange lost another N59 billion as the market dipped further on Monday.

The market value of listed equities declined by N59 billion from N13.137 trillion to close at N13.078 trillion on Monday.

While All-Share Index dipped by 0.45 percent or 121.04 points to close at 26,866.41.

The bourse was weighed upon by losses recorded in medium and large capital stocks like Seplat, Nestle Nigeria, Stanbic IBTC Holdings, Cadbury Nigeria and Nigerian Breweries.

Experts at United Capital Plc expect the market to remain tepid this week.

“This week, we expect the equities market to remain tepid, as market participants’ factor in the activities in the global economy and the fiscal environment atmosphere in Nigeria before locking in gains on stocks with strong fundamentals.

“We also expect third quarter, 2019 earnings to begin to trickle in,” they said.

The activity chart shows Cornerstone Insurance top losers’ chart with a loss of 10 percent to close at 36k per share.

Seplat, Cadbury, Oando and Caverton followed with a decline of 6.85 percent, 5.74 percent, 2.70 percent and 5.38 percent.

Courteville led gainers’ chart with 10 percent to close at 22 per share.

Followed by Africa Prudential, Associated Bus Company, Wema Bank and UACN gained 9.94 percent, 8.82 percent, 8.62 percent and 8.40 percent, respectively.

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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