NGX opens week with N20bn loss



Trading in the domestic equities market started the week on Monday with negative sentiments following sell pressure in Presco and 20 other stocks.

Speficially, the market capitalisation which opened at N22.598 trillion lost N20 billion or 0.09 per cent to close at N22.578 trillion.

Also, the All-Share Index lost 37.31 points or 0.09 per cent to close at 43,270.94 from 43,308.25 posted on Friday.

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Accordingly, the month-to-date and year-to-date gains moderated to 2.9 per cent and 7.5 per cent, respectively.

The negative performance of market was driven by price depreciation in large and medium capitalised stocks which are: Presco, UPDC Real Estate Investment Trust, International Breweries, Zenith Bank and Oando.

Analysts at Afrinvest Ltd. anticipated a mixed market performance in the next trading session due to the weak investor sentiment.

The market…

Source: Vanguard Newspaper

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