NGX: Nigerian Investors Lose N276 Billion at the Start of This Week?

The Nigerian stock market opened the week on a negative note on Monday, as investors lost N276 billion in market value.

Data from the Nigerian Exchange Limited showed that market capitalisation fell by 0.21 percent, closing at N128.693 trillion compared with N128.969 trillion in the previous trading session.

The All Share Index also dropped by 428.63 points, or 0.21 percent, to close at 200,484.43, down from 200,913.06 recorded earlier.

Following the decline, the market’s year to date return eased to 28.84 percent. Market breadth was also negative, with 34 stocks closing lower and 27 posting gains.

Secure Electronic Technology led the losers table after falling by 10 percent to close at N1.17 per share. Other stocks that ended lower included May and Baker, Legend Internet, Cutix, and Fortis Global Insurance.

On the gainers’ side, Austinlaz recorded the biggest increase, rising by 9.98 percent to close at N4.41 per share. It was followed by Zichis Agro Allied Industries, Transcorp Power, The Initiates, and Learn Africa.

Trading figures showed mixed performance during the session. The number and value of deals increased, while the total volume of shares traded declined slightly. Investors exchanged 593.3 million shares worth N25.6 billion in 60,311 deals. In the previous session, 595.2 million shares valued at N24.5 billion were traded in 43,440 deals.

Access Corporation recorded the highest trading volume with 86.64 million shares, while First HoldCo posted the highest trade value at N4.26 billion.