NSE: Equity market opens week in negative trend, sheds N48bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) on Monday opened week in a negative trend, shedding N48 billion.

Specifically, market capitalisation of listed equities declined by 0.36 per cent to N13.354 trillion from N13.402 trillion reported previously.  

The NSE All Share Index ASI also depreciated by 109.94 basis points to 30322.19 points from 30432.13 traded on Friday.   

Investors traded 247.392 million shares valued at N3.484 billion in 3434 deals against 305.558 million shares worth N3.903 billion exchanged hands in 3754 deals.

Capital market operators said the on-going sell-off by investors is reaction from unclear government economic policies, noting that by now the government would have unveil its economic agenda for the next four years.

They pointed out that the faceoff between Securities and Exchange Commission and Energy giant, Oando may have contributed to dwindling investors confidence.

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