NSE: Bear run continues amid losses in bank, oil & gas stocks | Ripples Nigeria
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NSE: Bear run continues amid losses in bank, oil & gas stocks



The Nigerian Stock Exchange (NSE) extended its downtrend further on Monday as bank and oil and gas stocks posted significant losses, and negative sentiment remained rife among investors.

Depreciation in stocks like Mobil, Eterna Oil, Zenith and GTB principally accounted for the slide in the Oil and Gas Index and Banking Index, the two worst performing sectorial performers, which consecutively fell by 1.91% and 1.70%.

Trade ended with a negative market breadth as 17 losers emerged against 14 gainers.

Dipping by 0.44%, the All Share Index closed at 24,200.60 basis points. In the same vein, Market Capitalisation edged lower to N12.624 trillion, shedding N12.624 billion.

Year to date, the index is down by 9.84%

READ ALSO: NSE: Livestock, Int’l Breweries, Vitafoam lead gainers as market rallies


NPF Microfinance Bank led gainers, growing by 10% to close at N1.32. Neimeth gained 9.35% to close at N1.52. Linkage Assurance rose by 8.51% to N0.51. ABC Transport leapt to N0.55, notching up 7.84% in the process. Caverton completed the top 5, climbing up by 7.73% to N1.95.


Mobil topped the losers’ table today, declining by 9.97% to close at N173.40. Chams shrank by 8.83% to end the day at N0.22. Eterna tumbled to N2.09, losing 6.70%. Wapic dipped to N0.33, recording 5.71% loss. Transcorp closed at N0.62, going down by 4.62%.


231.235 million shares worth N2.155 billion were traded today in 3,950 deals.

Sterling Bank was the most preferred stocks today with 77.546 million units of its stocks worth N96.765 million traded in 420 deals. 33.275 million units of FCMB shares priced at N63.214 million exchanged hands in 64 transactions. Fidelity Bank had 27.058 million shares valued at N48.177 million traded in 139 deals. GTB traded 9.752 million shares estimated at N215.017 million in 292 transactions. MTNN traded 9.732 million shares valued at N1.125 billion in 85 deals.

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