NGX Loses N107bn as Five-Day Bearish Run Continues

The Nigerian Exchange extended its losing streak to five trading sessions on Monday, as investors took profits in medium- and large-cap stocks. Market capitalisation fell by N107 billion, from N156.623 trillion on Friday to N156.517 trillion. The NGX All-Share Index declined by 164.55 points, or 0.07%, to close at 242,454.65 points. The market’s year-to-date return eased to 55.81%, with 36 stocks declining and 19 advancing. RT Briscoe, Fortis Global Insurance, Mc Nicholas, University Press and NEM Insurance led the losers. Trans-Nationwide Express, AVA Capital, Thomas Wyatt Nigeria, Legend Internet and Dangote Sugar were among the top gainers. Trading volume fell 5.89% to 1.33 billion shares worth N22.93 billion across 45,494 deals. Lasaco Assurance led trading by volume, while MTNN recorded the highest value of transactions.

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