Home Markets Equities market dips 0.03% on 19 firms’ sell-offs

Equities market dips 0.03% on 19 firms’ sell-offs


The equities market segment of the Nigerian Stock Exchange (NSE) opened the week on a negative note as investors’ sell-offs in United Bank for Africa, Access Bank and 17 others dipped the ASI basis points.

Specifically, NSE All-Share Index (ASI) was down by 10.95 basis points, representing an decrease of 0.03per cent, closing at 34,837.50 basis points.

Similarly, the market capitalization was down by N4 billion, representing an decrease of 0.33per cent, closing at N12.12 trillion on Monday.

The downturn was impacted by losses recorded in medium and large capitalized shares, amongst which are Flour mills of Nigeria that dropped by 9.67 per cent, Oando plc 5.66 per cent Guinness Nigeria plc, 5.26 per cent, Dangote sugar was down by 4.13per cent.

Other losers are Nigerian Breweries that dropped by 2.96per cent, UBA, shares depreciated by 1.25per cent while shares of Access bank dropped by 1.05 per cent.

On the foreign exchange market, the Naira at the inter-bank rate closed unchanged at N306.15 against Friday’s closing price.

The Investors and Exporters (I&E) foreign exchange window opened at N362.32, traded high at N364.00 and eventually closed at N362.78, representing 0.04per cent depreciation against Friday’s closing price.

A total of $425.98 million was transacted through the I&E foreign exchange window today.