The nation’s bourse opened trading for the week on Monday on a bearish mood with the market indices dropping by 0.02 percent .
Specifically, the market capitalisation, which opened at N20.455 trillion, shed N4 billion or 0.02 per cent to close at N20.451 trillion.
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Also, the All-Share Index lost 8.12 per cent or 0.02 per cent to close at 39,252.89 from 39,261.01 achieved on Friday.
Accordingly, month-to-date return and year-to-date loss stood at 0.1 per cent and 2.5 per cent, respectively.
The downturn was due to market watchers’ sell-off sentiment in the consumer goods sector.
The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which are Flour Mills of Nigeria, GlaxoSmithKline Consumer Nigeria, Stanbic IBTC Holding, Dangote Sugar Refinery and May and Baker.
However, investor sentiment as measured by market breadth closed…
Source: Vanguard Newspaper
