Investors Lose N34bn As Stock Market Drops Further

Investors in the Nigerian stock market lost N34.33bn at the end of trading on the floor of the Nigerian Exchange Limited extending losses from the previous week.

The NGX All-Share Index fell slightly by 0.19 per cent to close at 37,585.35 basis points on Monday from 37,658.26 on Friday.

The total market capitalisation dropped to N19.59tn from N19.63tn on Friday.

A total of 165.50 million shares valued at N3.44bn were traded by investors in 3,562 deals, compared to 202.71 million shares valued at N2.41bn in 3,652 deals on Friday.

The financial services sector led the chart by trading volume as 9.21 million shares were traded in 692 deals followed by the industrial goods sector with 948,140 shares in 132 deals.

Eighteen companies led by BOC Gases Plc recorded losses at the end of trading on Monday.

BOC Gas lost 9.95 per cent to close at N9.50 per share. It was followed by Royal Exchange Plc, which fell by 7.94 per cent to close at N0.58 per share.

Other top losers were Unity Bank Plc, Mutual Benefits Assurance Plc and Honeywell Flour Mills Plc.

Thirteen companies gained at the end of trading, led by Ikeja Hotel Plc with a 10 per cent increase to close at N1.10 per share.

Fidson Healthcare Plc gained 7.91 per cent to close at N6.00 per share. Other top gainers were Linkage Assurance Plc, Chams Plc, and FCMB Group Plc.