Business
Stock market dips as investors lose N74bn
Nigerian stocks ended trading session on Monday on a bearish note with the All Share Index dipping by 0.34% to close at 41,566.86 index points as against the -0.18% plunge recorded last Friday.
Its Year-to-Date (YTD) returns currently stands at +3.22%. Investors lose N74.4 billion.
Nigerian bourse trading turnover also dipped lower as volume plunged by 29.43% as against the 23.39% drop recorded at its last trading session. UBN, FBNH and ACCESS were the most active to boost market turnover.
The market breadth closed positive as UPDCREIT led 23 Gainers as against 16 Losers topped by CHAMPION at the end of today’s session – an improved performance when compared with the previous outlook.
UBA, Fidson, Guiness are among the top gainers while GTbank, Unilever, PZ and Flourmill topped the losers table.
Experts envisage cautious buying, on the sentiments that recent price actions reveal Nigerian stocks’ bullish run is softening in the near term. However, stock traders anticipate more upsides are still in play for the long term at the world’s most outstanding stock market.
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