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NSE: Investors lose N155.2bn as market begins second half on a bearish note

Investors lose N155.2bn as market begins second half on a bearish note

Investors at the local bourse on Monday lost N155.2bn as market begins second half on a bearish note at the Nigerian Stock Exchange (NSE).

All-Share Index (ASI) shed 1.2% to settle at 29,614.61 points while market capitalisation decreased to N13.tn.

Year-to-date (YTD) loss worsened to -5.8%.

The negative performance can be attributed to profit-taking in GUARANTY (-7.0%), DANGCEM(-1.6%) and NIGERIAN BREWERIES (-4.8%).

Also, activity level waned as volume and value traded fell 56.7% and 78.9% to 107.4m units and N1.1bn respectively.

TRANSCORP (21.9m units), FBNH (12.4m units) and ZENITH BANK(8.5m units) were the top traded stocks by volume while GUARANTY (N232.6m),ZENITH BANK (N168.6m) and GUINNESS(N84.8m) led by value.

Read also: States’ Internally Generated Revenue (IGR) grows to N1.16tn in 2018

The Oil & Gas index, up 0.5%, led gainers as MOBIL and FORTE appreciated 2.9% and 0.8% respectively.

Trailing closely were the Insurance and Afrinvest-ICT indices which gained 0.4% and 0.3% respectively on the back of substantial buy interest in CORNERSTONE (+10.0%), CHIPLC (+7.8%) as well as MTNN (+0.4%).

On the flipside, the Banking index plunged 3.1% following sell-offs in GUARANTY(-7.0%), ETI (-9.1%) and ZENITH BANK (-1.0%).

Similarly, the Consumer Goods and Industrial Goods indices pared 1.7% and 0.2% in that order as NIGERIAN BREWERIES (-4.8%) and UNILEVER (-7.0%), as well as DANGCEM (-1.6%), closed in the red.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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