Home Business Renewed profit-taking returns negative sentiment to Nigerian equity market

Renewed profit-taking returns negative sentiment to Nigerian equity market

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Stockbrokers during a trading session at the NSE

Investors are catching on the bullish trend the Nigerian Stock Exchange (NSE) enjoyed last week, causing the market to dip on Monday.

The All Share Index (ASI) was down by 252.09 absolute points, representing a 0.82 per cent to close at 30,614.73 points, while Market Capitalization declined by N92.03 billion, representing a 0.82 per cent drop, closing at N11.18 trillion.

Transexpress gained 8.47 per cent to lead 14 gainers, while Livestock shed -9.62 per cent to emerge the highest loser amongst 25 decliners.

The downturn the bourse suffered was impacted by loses recorded in medium and large capitalized stocks, amongst which are: Honey Flour (-4.35 per cent), Nestle (-4.13 per cent), Oando (-2.19 per cent), NB (-2.50 per cent), Zenith Bank (-2.12 per cent), etc.

Investors exchanged 44.92 million shares of Diamond Bank worth N45.6 million, making it the most active stock in terms of volume, while GTBank which sold 8.02 million shares valued at N276.65 million was the most active in terms value.

In all, investors traded 164,582,396 shares, worth N1.67 billion in 3,193 deals.

The Nigerian equity market has, so far, lost -19.95 per cent this year, after gaining over 42 per cent at the end of 2017.

Renewed profit-taking returns negative sentiment to Nigerian equity market

Investors are catching on the bullish trend the Nigerian Stock Exchange (NSE) enjoyed last week, causing the market to dip on Monday.

The All Share Index (ASI) was down by 252.09 absolute points, representing a 0.82 per cent to close 30,614.73 points, while Market Capitalization declined by N92.03 billion, representing a 0.82 per cent drop, closing at N11.18 trillion.

Transexpress gained 8.47 per cent to lead 14 gainers, while Livestock shed -9.62 per cent to emerge the highest loser amongst 25 decliners.

The downturn the bourse suffered was impacted by loses recorded in medium and large capitalized stocks, amongst which are: Honey Flour (-4.35 per cent), Nestle (-4.13 per cent), Oando (-2.19 per cent), NB (-2.50 per cent), Zenith Bank (-2.12 per cent), etc.

Investors exchanged 44.92 million shares of Diamond Bank worth N45.6 million, making it the most active stock in terms of volume, while GTBank which sold 8.02 million shares valued at N276.65 million was the most active in terms value.

In all, investors traded 164,582,396 shares, worth N1.67 billion in 3,193 deals.

The Nigerian equity market has, so far, lost -19.95 per cent this year, after gaining over 42 per cent at the end of 2017.