NGX Investors Loose 220 Billion On Market Cap

By: Chiamaka Okechukwu

Business activities at the Nigerian Exchange Group, NGX closed on a negative note on Monday due to losses on medium capitalised stocks.

The bearish outcome led to a 390.68 basis points or 0.4 percent decline on the All-Share Index of listed equities to close at 103,046.99 points compared to Friday’s 103,437.67 points.

Consequently, the market capitalisation dipped further by N220 billion to close at N58.276 trillion lower than the N58.497 trillion recorded on Friday.

The Exchange however saw trading activities increase substantially despite the dips with 397.94 million unit of share exchanging hand in 9,430 deals.

The market sentiments were negative with 17 gainer relative to 24 losers.

Out of  the 17 gainers, MORRISON, OMATEK and CWG which gained 9.91 percent, 7.69 percent, and 5.93 percent to close at N2.33k, N0.84k and N7.15k on their respective share prices.

On flipside, ABBEYBDS, CHAMPION and REGALINS shares dropped by 9.75 percent, 9.68 percent, and 9.30 percent to close at N2.50k, N3.36k and N0.39k respectively.

Olusola Akintonde