L–R: Mr. Seyi Osunkeye, National Council Member, The Nigerian Stock Exchange (NSE); Mrs. Catherine Nwakaego Echeozo, Second Vice President, NSE; Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE; Otunba Abimbola Ogunbanjo, President, National Council, NSE; Dr. Zainab Shamsuna Ahmed, Honourable Minister of Finance, Budget and National Planning; Dr. Sarah Alade, Special Adviser to the President on Finance and Economy; Ms. Mary Uduk, Acting Director General, Securities and Exchange Commission (SEC); Mr. Oluwole Ololade Adeosun, National Council Member, NSE; and Mr. Bola Adeeko, Head, Shared Services Division, NSE during the Closing Gong Ceremony to commemorate the visit of the Honourable Minister of Finance, Budget and National Planning to the Exchange in Lagos on Monday.

The Nigerian equity market slipped on Monday on the back of decline in banking sectors, despite the positive economic report released by the National Bureau of Statistics (NBS).

The All-Share Index dipped by 1.27% to 27,041.03 points, the largest 1-day decline since falling by 1.55% on December 23, 2019.

The Month-to-Date loss increased to -6.25%, while the Year-to-Date return moderated to 0.74%.

Meanwhile, the Market Capitalization dropped by N181.08 billion, representing a dip of 1.27% to close at N14.09 trillion.

The NBS economic report showed that Nigerian Gross Domestic Product (GDP) grew 2.25% in 2019, better than the 2.1% projection by the IMF.

The total volume of trades by investors increased by 1.83% to 429.00 million units, valued at NGN7.30 billion and exchanged in 4,533 deals.

LAW UNION was up 9.59% to emerge the top gainer, while GLAXOSMITH, NCR, and BOCGAS all shed 10% to top the losers’ chart.

GTBank was the most traded stock by volume and value at 177.13 million units and NGN4.79 billion respectively.

Performance was negative across all sector indices, with the Banking (-4.78%), Industrial Goods (-0.85%), Consumer Goods (-0.72%), Insurance (-0.47%), and Oil & Gas (-0.45%) indices all closing in the red.