Nigeria’s stock market opens week with N55bn loss

The nation’s bourse resumed transactions for the week on Monday with a loss of N55 billion following sell pressure in some blue chips.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Mobil, MTN Nigeria Communications, Zenith Bank, Guaranty Trust Bank and Eterna. Also, analysts at APT Securities and Funds Limited advised investors to take advantage of the bearish outlook and position for mid to long term as daily position change is not foreseen yet as market technical are down at this time.NPF Microfinance Bank recorded the highest price gain of 10 per cent to close at N1.32, per share.

Wapic Insurance lost by 5.71 per cent to close at 33k, while Transcorp dropped 4.62 per cent to close at 62k, per share.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigeria’s stock market opens week with N55bn lossThe nation’s bourse resumed transactions for the week on Monday with a loss of N55 billion following sell pressure in some blue chips. Specifically, the market capitalisation which opened at N12.67…
Source: Daily Trust - 🏆 13. / 51 Read more »

Equities market opens negative, as investors lose N55bnTrading activities at the local bourse started the week bearish as the benchmark index moderated 44bps to close at 24,200.60 following sell-offs in MTNN (-1.0percent), Zenith (-3.0percent) and Guaranty Trust Bank (-2.0percent ). Read more:
Source: Daily Trust - 🏆 13. / 51 Read more »

Banks, oil companies face probe over $30bn revenue lossAs Nigeria faces serious cash crunch and economic downturn, major players in the oil and gas industry are facing probe over their role in an alleged annual loss of revenue, to the tune of $30billion. Read more:
Source: Daily Trust - 🏆 13. / 51 Read more »