See more as Nigerian stock market opens first trading in the week with N8 billion loss

• The Nigerian banal marketplace recorded a mediocre show connected Monday arsenic it recorded a important nonaccomplishment of N8 cardinal successful marketplace capitalisation
• Data shows that the losers' array was led by E-Tranzact International Plc, Prestige Assurance Plc
• Stocks similar Academy Press Plc, Neimeth International Pharmaceuticals Pl and Tantalizers Plc led the gainers' table

Legit.ng journalist Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Nigeria’s banal marketplace opened the week connected a antagonistic note, falling by 0.15% astatine the adjacent of trading connected Monday, March 17.

Data from the Nigerian Exchange Limited (NGX) showed that the marketplace All-Share Index (ASI) slipped to 105,799.17 points from 105,955.13 successful the erstwhile session.

Stock marketplace closed antagonistic connected Monday Photo credit: Bloomberg/contributor
Source: Facebook

While market capitalisation dropped to N66.343 trillion from N66.351 trillion reported connected Friday, March 14.

This means N8 cardinal was mislaid by investors successful the stock marketplace at the extremity of trading connected Monday.

Details connected however the banal marketplace performed

In 13,520 deals, investors exchanged 477,512,939 shares worthy N7.05 billion

Stock question YTD arsenic marketplace closed antagonistic again Photo credit: NGX
Source: Getty Images

Here is simply a snapshot of the marketplace activities.

Gainers list

• Academy Press Plc gained N0.26, rising from N2.62 to N2.88 per stock (9.92%).
• Neimeth International Pharmaceuticals Plc gained N0.21, moving from N2.49 to N2.70 per stock (8.43%).
• Tantalizers Plc gained N0.20, expanding from N2.93 to N3.13 per stock (6.83%).
• Dangote Sugar Refinery Plc roseate by N1.65, climbing from N35.05 to N36.70 per stock (4.71%).
• Stanbic IBTC Holdings Plc gained N2.50, moving from N59.00 to N61.50 per stock (4.24%)..

Losers list

• E-Tranzact International Plc declined by N0.65, dropping from N6.50 to N5.85 per stock (-10.00%).
• SUNU Assurances Nigeria Plc fell by N0.51, decreasing from N5.14 to N4.63 per stock (-9.92%).
• Prestige Assurance Plc mislaid N0.09, moving from N1.09 to N1.00 per stock (-8.26%).
• Sovereign Trust Insurance Plc dropped N0.08, falling from N1.03 to N0.95 per stock (-7.77%).
• Red Star Express Plc declined by N0.45, sliding from N5.80 to N5.35 per stock (-7.76%).

Top progressive trades

• Jaiz Bank Plc recorded a turnover of 197,416,163 shares valued astatine N606,149,516.66.
• Zenith Bank Plc traded 25,976,111 shares worthy N1,235,172,217.40.
• Sovereign Trust Insurance Plc saw a measurement of 19,259,313 shares with a worth of N18,525,347.34.
• Prestige Assurance Plc exchanged 18,541,946 shares amounting to N18,991,849.38.
• Fidelity Bank Plc recorded 15,895,390 shares valued astatine N270,477,408.95.

Naira gains by 8.5% against US dollar

Legit.ng previously reported that the Nigerian currency recorded a beardown show against the US dollar successful the unofficial FX markets.

Afrinvest, successful its monthly marketplace report, revealed that the naira closed astatine N1,490 per dollar successful the achromatic market.

There are concerns that the depletion of the CBN's overseas reserves could impact the naira successful March.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng