The inventory market closed on a damaging be aware on Monday as 14 corporations noticed their share costs decline on the finish of buying and selling on the Nigerian Alternate Restricted.
The NGX All-Share Index fell by 0.44 per cent to 39,306.47 foundation factors whereas the market capitalisation dropped to N20.49tn from N20.58tn on Friday.
A complete of 357.69 million shares valued at N3.56bn in 4,394 offers had been traded on the ground of the NGX on Monday.
Nigerian Enamelware Plc, which led the losers’ desk, noticed its share value drop by 9.8 per cent to N17.95.
Different prime losers had been Africa Prudential Plc, NPF Microfinance Financial institution, Wema Financial institution Plc, and AXA Mansard Insurance coverage Plc.
Twenty-five shares appreciated on Monday, led by 16.29 per cent FGN MAR 2027 and 12.40 per cent FGN MAR 2036. Different prime gainers had been Eterna Plc, Royal Alternate Plc and Capital Lodge Plc.
Analysts at Cordros Capital Restricted famous that buying and selling within the native bourse opened the week on a bearish be aware, saying traders’ sell-offs of MTN Nigeria (-1.1 per cent) and BUA Cement (-1.2 per cent) drove the efficiency.
They stated, “Consequently, the month-to-date and year-to-date losses elevated to -1.3 per cent and -2.4 per cent respectively.
“Efficiency throughout sectors was broadly damaging, following losses within the industrial items (-0.7 per cent), banking (-0.6 per cent), insurance coverage (-0.3 per cent) and client items (-0.1 per cent) indices. The oil and gasoline (+0.2.1 per cent) index was the lone gainer of the day.”
All rights reserved. This materials, and different digital content material on this web site, might not be reproduced, revealed, broadcast, rewritten or redistributed in complete or partially with out prior specific written permission from PUNCH.
Contact: [email protected]