Nigeria Stock Exchange, Lagos
The Nigerian Stock Exchange (NSE) opened for the week on Monday still on a bearish trend, amid sell pressure and delisting of Newrest ASL from three official list.
Specifically, the All-Share Index declined by 1.26 per cent or 363.37 points to close at 28,484.44 compared with 28,847.81 achieved on Friday.
Also, the market capitalisation shed N141 billion, representing a dip of 1.30 per cent to close at N10.701 trillion against N10.842 trillion on Friday.
This followed the delisting of Newrest ASL 634 million entire share capital from the daily official list of the Exchange.
Market performance was influenced by price depreciation in medium and large capitalised stocks, among which are, Mobil Nigeria, Stanbic IBTC Holdings, Guinness Nigeria, Guaranty Trust Bank and PZ Cussons Nigeria.
Anaysts at APT Securities and Funds Limited said “equities continue in negative band as bearish trend continues and the ASI now down to 28,000 threshold.
“All sector…
