NSE: Market Capitalisation Opens Week With N6bn Loss

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Trading on the Nigerian bourse opened for the week on Monday on a negative trend with the market capitalisation dropping by six billion naira.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed six billion naira or 0.05 per cent to close at N10.973 trillion against N10.979 trillion on Friday.

Also, the All-Share Index which opened at 29,212.00 lost 15.13 points or 0.05 per cent to close at 29,196.87.

The performance was influenced by price depreciation in medium and large capitalised stocks, among which are, Mobil Nigeria, Cement Company of Northern Nigeria (CCNN), Guaranty Trust Bank, UACN Property and Ikeja Hotel.

Analysts at United Capital Limited noted that “Looking ahead, we expect activities in the local bourse to remain tepid in absence of positive triggers that could spur massive buying interest.

“However, we do not rule out the possibility of intermittent gains in the market on the backdrop of bargain hunting of stocks with relatively cheap…



Source: Leadership Newspaper