Nigerian Stocks Open Week in Red as Investors Lose N84b

By Modupe Gbadeyanka

Trading on the floor of the Nigerian Stock Exchange (NSE) opened for the week on Monday on a negative note with the market falling by 0.95 percent.

The All-Share Index depreciated by 243.31 points to close at 25,273.03 points, while the market capitalisation declined by N84.2 billion to finish at N8,744 trillion.

The Financial Services sector dominated the activity chart with Fidelity Bank trading N26.7 million shares worth N21.3 million.

It was trailed by Diamond Bank, which exchanged 9.8 million shares at N8.2 million and UBA, which sold 9.3 million valued at N48 million.

First Bank transacted 6.7 million shares for N20.8 million, while Stanbic IBTC traded 4.1 million shares at N73.4 million.

On the price movement log, Total lost N9.98k to finish at N260 per share and Dangote Cement depreciated by N3.90k to end at N161.10k per share.

Nigerian Breweries slumped by N1.85k to close at N125.15k per share, GTBank fell by 59k to end at N24.31k per share, while Eterna went down by 16k to finish at N3.23k per share.

At the other end, Mobil gained N15 to finish at N315 per share, while 7up went up by N4.5k to close at N87.5k per share.

CAP advanced by N1.41k to end at N29.61k per share, UACN grew by N1.33k to finish at N14.33k per share and NASCON rose by 72k to close at N7.82k per share.

Investors traded a total 97.7 million shares on Monday valued at N682.8 million transacted in 2,634 deals.