Stock Market Closes Lower, Sheds N407bn

No Result View All Result Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us Hausa Edition Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us No Result View All Result No Result View All Result Stock Market Closes Lower, Sheds N407bn by Olushola Bello 3 seconds ago in Business Share on WhatsAppShare on FacebookShare on XTelegram The Nigerian stock market retreated on Monday, as the Nigerian Exchange (NGX) All-Share Index (ASI) fell by 0.25 per cent.

The NGX All-Share Index declined by 0.25 per cent to close at 247,736.24 points, bringing its year-to-date return to 59.20 per cent and reducing market capitalisation by N407 billion to N160.85 trillion.

Market breadth remained negative, with 26 gainers against 29 losers. Neimeth International Pharmaceuticals recorded the highest price gain of 10 per cent to close at N7.70, per share. Guinness Nigeria followed with a gain of 9.93 per cent to close at N423.00, while Livestock Feeds up by 9.89 per cent to close at N14.45, per share.

NPF Microfinance Bank appreciated by 9.52 per cent to close at N4.60, while Multi-Trex Integrated Foods rose by 9.52 per cent to close at 46 kobo, per share.

On the other hand, Sunu Assurance led the losers’ chart by 9.85 per cent to close at N2.93, per share. Critical Minerals Financing Corporation (CMFC) followed with a decline of 9.78 per cent to close at N3.23, while Oando dipped by 7.55 per cent to close at N33.65, per share.

Livingtrust Mortgage Bank down by 6.25 per cent to close at N3.00, while Zichis Agro Allied Industries declined by 6.16 per cent to close at N16.00, per share.

Meanwhile, trading activity was also mixed, as volume and deal count increased by 25.88 per cent and 40.11 per cent to 405.39 million shares and 52,977 transactions, respectively, while turnover fell by 3.07 per cent to N19.87 billion.

On market for this week, United Capital Plc said, “the Nigerian equities market is expected to remain sensitive to profit-taking, corporate earnings and investor positioning this week. Investors may favour fundamentally strong stocks with attractive valuations and dividend prospects. Attention will also centre on third-quarter earnings releases, dividend expectations and developments surrounding the Dangote Refinery IPO.

“However, continued profit-taking in large-cap stocks could limit near-term gains following the market’s strong year-to-date performance. Overall, selective buying may support recovery in fundamentally strong stocks, while sector rotation and foreign exchange stability will influence market direction.”

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