Inventory market posts losses, capitalisation down by N20 billion

Bearish sentiment resurfaced on the Nigerian inventory market on Monday, following sell-off in some financial

Bearish sentiment resurfaced on the Nigerian inventory market on Monday, following sell-off in some financial institution shares similar to Constancy, Sterling, Entry, FBN Holdings amongst others.

Particularly, the market capitalisation misplaced N20.6 billion or 0.07 per cent to shut at N27.921 trillion from N27. 941 trillion on Friday.

Additionally, the All-Share Index (ASI) declined by 38.22 factors or 0.07 per cent to shut at 57,791 in opposition to 51,829 the identical day.

Accordingly, the year-to-date returns elevated to 21.24 per cent. General, the market was unfavorable with 17 losers, relative to 18 gainers.

Fidson Pharmaceutical drove the gainers’ chart in proportion phrases by 9.82 per cent to shut at N12.30 per share. 

Be taught Africa adopted with a achieve 9.79 per cent to shut at N2.47, whereas UPDC  rose by 9.71 per cent to shut at N1.13 per share.

Status Insurance coverage went up by 8.33 per cent to shut at 39k, whereas Regent Alliance Insurance coverage appreciated by 7.69 per cent to shut at 28k per share.

However, Conoil led the losers’ chart in proportion phrases by 9.9 per cent to shut at N25.95 per share.

Redstar Specific and RT Briscoe adopted with 9.09 per cent every to shut at N2.50 and 40k per share.

Cutix shed 7.69 per cent to shut at N2.28 per share, whereas Unity Financial institution misplaced 6.67 per cent to shut at 42k per share. 

Additionally, the whole quantity traded elevated  to 194.122 million models valued at N2.82 billion and exchanged in 4,899 offers.

Transactions within the shares of Transcorp topped the exercise chart with 25.07 million shares valued at N31.77 million.

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Warranty Belief Holding Firm (GTCO) adopted with 20.18 million shares price N413.02 million, whereas United Financial institution for Africa (UBA) traded 15.59 million shares valued at N131.22 million.

AIICO traded 13.61 million shares valued at N8.32 million, whereas First Financial institution of Nigeria (FBNH) transacted 11.63 million shares price N131.92 million.

Analyst at GTI Securities stated, “Fairness market closed transaction for in the present day unfavorable, as cut price looking resumes. We anticipate cautious buying and selling to proceed within the week.”

(NAN)