Nigerian equity market downturn extends to new week

Negative sentiment continued to prevail in the Nigerian equity market on Monday as all the sectors were bearish.

The All Share Index (ASI) shed 363.37 absolute points, representing a  1.26 per cent drop to close at 28,484.44 points,  Market Capitalization lost N140.86 billion, a 1.30 per cent decline to close at N10.70 trillion as the entire share capital (634,000,000 ordinary shares) of Newrest ASL was delisted from the daily official list of the Exchange.

The banking sector dipped -2.8 per cent, insurance sector declined -2.72 per cent and the oil and gas sector shed -1.05 per cent.

NEIMETH added 10 per cent to emerge top among 11 gainers, while CHAMS shed equal percentage to top 29 other losers.