Nigerian stock market opens bearish as investors lose N276bn

The Nigerian banal marketplace started the week connected a bearish enactment with investors signaling a nonaccomplishment of N276 cardinal successful marketplace worth connected Monday.

Figures from the Nigerian Exchange Limited showed that marketplace capitalization dipped by 0.21 percent to adjacent astatine N128.693 trillion, down from N128.969 trillion recorded successful the erstwhile session.

Similarly, the All-Share Index declined by 428.63 points, representing a 0.21 percent drop, to settee astatine 200,484.43, compared to 200,913.06 posted earlier.

As a result, the year-to-date (YTD) instrumentality moderated to 28.84 percent. Market breadth besides closed negative, with 34 stocks signaling losses against 27 gainers.

On the losers’ chart, Secure Electronic Technology led with a 10 percent diminution to adjacent astatine N1.17 per share. Other laggards included May & Baker, Legend Internet, Cutix, and Fortis Global Insurance.

Conversely, Austinlaz topped the gainers’ array with a 9.98 percent summation to adjacent astatine N4.41 per share. It was followed by Zichis Agro Allied Industries, Transcorp Power, The Initiates, and Learn Africa.

Trading enactment showed mixed performance, arsenic the worth and fig of deals accrued portion measurement declined. A full of 593.3 cardinal shares worthy N25.6 cardinal were traded successful 60,311 deals, compared to 595.2 cardinal shares valued astatine N24....