The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi SotundeThe Nigerian Stock Exchange market capitalisation opened the week on Monday with a huge loss of N329 billion due to persistent fall in global oil prices and rising cases of COVID-19.
Consequently, the Month-to-Date return loss stood at 2.2 per cent, as Year-to-Date loss also increased to 4.5 per cent. “As such, we expect investors to remain risk-averse toward the equities market in the near term, although there is headroom for bargain hunting activities due to cheap valuation of stocks and the local bourse relative to peers.”Access Bank, Conoil, Cornerstone Insurance, Fidelity Bank, Nigerian Aviation Handling Company, Oando, Stanbic IBTC Holdings, United Capital and Unilever Nigeria led the losers’ chart by 10 per cent each, to close at N7.65, N16.20, 45 kobo, N1.80, N2.25, N2.43, N31.50, N2.
This was in contrast with a turnover of 361.11 million shares worth N4.28 billion traded in 4,602 deals on Friday.
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