Stock market loses N329bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) yesterday opened week in negative trend, despite companies earning reporting season, shedding N329 billion.

Specifically, Market Capitalisation of listed equities declined by 2.4 per cent to N13.365 trillion from N13.694 trillion reported on Friday. The NSE All Share Index also went down by 632.07 basis points to 25647.54 points from 26279.61 traded the previous day.

Investors traded 185.648 million shares valued at N1.825 billion in 2690 deals against 361.108 million shares valued at N4.275 billion exchanged hands the previous day in 4602 deals.

A review of the transactions for the day showed that Chip Plc led gainers table during the day appreciating by N0.02 kobo to close at N0.30 kobo, Gold Insurance and NSL Technology remained stable at N0.20 each.

Aso Savings Loans and Fidson Healthcare also steady at N0.50 kobo and N2.54 kobo respectively.

On the contrary, Nigerian Breweries recorded the highest loss declining by N4.05 kobo to close at N36.95 KOB, Stanbic IBTC trailed with a loss of N3.60 kobo to close at N31.50 kobo, Guaranty Trust Bank down by N2.45 kobo to close at N22.15 kobo, Zenith Bank Plc dipped by N1.85 kobo to close at N16.95 kobo while Conoil down by N1.80 kobo to close at N16.20 kobo.

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