Stock market closes negative Monday, sheds N418 billion

The market’s negative performance was driven by price depreciation in large and medium capitalised stocks which are; MTN Nigeria Communications , Transcorp Hotels, Africa Prudential, FBN Holdings and Wema Bank.

“We anticipate the broad-based return of investors’ risk-on sentiments, which is to be catalysed by declining yields in the fixed-income market. Nigerian Exchange Group rose by 8.16 per cent to close at N26.50, while Jaiz Bank gained 5.68 per cent to close at 98k, per share. The total volume traded fell by 58.19 per cent to 226.59 million units, valued at N1.57 billion, and exchanged in 4,37 deals.

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