Investors lost N297bn on the Nigerian Exchange Limited on Monday, driven by dips in the share prices of Seplat, PZ Cussons and ETranzact.
Seplat shed 10 per cent to close at N2,962.30, PZ Cussons lost 9.91 per cent to N25 and ETranzact declined by 9.68 per cent to the day’s trading at N5.60.
The All-Share Index and market capitalisation decreased by 0.53 per cent to close at 97,708.74 points and N55.26tn, respectively.
Notore Chemical Industries emerged as the most traded security in volume and value terms, with 74.43 million units worth N4.65bn transacted in a single trade.
Other active stocks included Access Corporation, Universal I
The market recorded 19 gainers in contrast to 24 losers.
Analysts had predicted mixed sentiment in the market this week as bulls and bears vie for dominance, while market players await corporate actions in anticipation of dividend income.
“Despite this, pockets of gains are expected as fiscal and monetary policies strive to steer the nation’s economy towards recovery, notwithstanding the forthcoming April 2024 CPI report and Q1 2024 Nigeria’s GDP report,” analysts at Cowry Assets Management said.
nsurance and United Bank for Africa, as investors traded 439,100,001 units of shares worth N11.38bn in 8,607 deals.
Across sectors, the day’s performance was bearish, with the banking, insurance, consumer goods, and oil & gas indexes contracting by 0.75 per cent, 0.64 per cent, 0.33 per cent, and 5.90 per cent, respectively.
However, the industrial goods index remained unchanged.
SOURCE: PUNCHNG
