Stock investors lose N30bn in 24 hours

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The equities market of the Nigerian Exchange Limited dipped by N30bn at the end of trading on Monday as 18 firms saw their share prices fall.

The NGX All-Share Index closed at 49,991.41 basis points on Monday from 50,045.83 on Friday, while the market capitalization fell to N26.964tn from N26.994tn.

A total of 200.92 million shares valued at N1.45bn were traded by investors in 3,976 deals at the end of trading on the floor of the NGX on Monday.

Twelve companies recorded share price appreciation while 18 firms’ share prices declined.

According to analysts at Cordros Securities “Activities in the domestic equities market resumed the week on a sour note, as investors took profits off WAPCO (-4.2 per cent), Zenith Bank (-2.3 per cent), and Stanbic (-3.0 per cent).

“Thus, the AllShare Index settled lower by 0.1 per cent at 49,991.41 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +0.3 per cent and +17.0 per cent, respectively.

“The total volume traded declined by 16.3 per cent to 200.92 million units, valued at NGN1.45 billion, and exchanged in 3,976 deals. Sterling Bank was the most traded stock by volume at 90.90 million units, while MTNN was the most traded stock by value at N252.47m.”

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Francis Ogwo
The young and goal driven writer and cinematographer started his journalism as a print journalist in Kaduna in 2005 writing for Kaduna Chronicles Newspapers, Liberator Newspapers where he became the South Bureau Chief. In 2008, he moved into TV production with an employment into Siverbird Television and Rhythm Fm as a Correspondent. He got certified by Independent Television Producers Association of Nigeria(ITPAN) in 2009. After five years of hardwork and training, he was employed as Associate Producer, Moments With Mo and subsequently Producer, Playground on HipTV. Francis currently majors in documentaries and high profile scripts for news and movies. He is currently a Senior Contents Producer at News Central TV

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