Local Stock Market Resumes On Bearish Note As Investors Lose N3bn

The Nigerian Stock Exchange (NGX) Limited declined by N3 billion from N26.797 trillion it closed on Friday to N26.794 trillion on Monday.

By the end of trading yesterday, Investors have transacted 232,944,695 shares worth N2.186 billion in 4,425 deals. The financial sector led the transactions carried out.

Jaiz Bank was the most traded stock with 40,420,867 shares estimated at N36,171,892.05. This was followed by Access Bank’s 35,805,356 shares valued at N293,556,018.25

Analysis of each sector showed the banking sector appreciated by 25 basis points (bps) on a 4.65% increase in the value of Jaiz Bank, 2.38% gain in Unity Bank, 0.70% improvement in the worth of UBA and 0.65% appreciation of Sterling Bank’s shares. Fidelity Bank lost 0.65%.

Consumer goods lost 51bps as the value of NB dropped by 2.86%, even though Vitafoam and Honey Flour gained 8.37% and 1.10%, respectively.

The oil and gas dipped by 5bps on a 1.22% decline in the worth of Ardova stock. The industrial sector, however, closed flat.