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Stock Market Investors Lose N17b on Week’s First Trading Session

By Dipo Olowookere

This week’s first trading day on the floor of the Nigerian Stock Exchange (NSE) ended on a negative note on Monday with investors losing N16.6 billion.

The poor performances put up yesterday by some large cap stocks left the equity market facing south by 0.11 percent.

Business Post reports that while the All-Share Index (ASI) decreased on Monday by 45.90 points to settle at 41,172.82 points, the equity capitalisation reduced by N16.6 billion to close at N14.914 trillion.

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The day’s heaviest loser at the market yesterday was Nigerian Breweries, going down by N1 to finish at N128 per share.

It was followed by Stanbic IBTC, which fell by 40k to end at N49.10k per share, and FBN Holdings, which went down by 35k to finish at N11.95k per share.

GTBank lost 25k to close at N45.05k per share, while UAC Prop declined by 12k to close the day at N2.34k per share.

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On the flip side, Dangote Cement emerged the biggest price gainer on Monday after appreciating by N2.50k to close at N248 per share.

It was followed by Eterna, which increased by 56k to end at N6.30k per share, and Guinness Nigeria, which went up by 50k to close at N104 per share.

Oando appreciated yesterday by 40k to settle at N8.75k per share, while May & Baker advanced by 9k to finish at N2.75k per share.

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It was observed that the volume and value of transactions executed by investors on Monday went down when compared with the previous session.

A total of 221.4 million shares valued at N2.6 billion were traded yesterday in 5,629 deals in contrast to the 283.6 million equities worth N4.2 billion exchanged in the last trading session in 4,187 deals.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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