Nigeria stock market opened the new trading week on a negative note with a record 0.06percent dip in the All Share Index (ASI).
Stocks new low recorded at the local Bourse pushed the negative returns this year to -9.57 percent. Investors lost N10billion on Monday July 20, 2020.
BusinessDay had earlier noted ahead of Monday’s trade open that the stock market may witness a mix of bargain hunting and profit taking activities.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) after its meeting on July 20 resolved to: retain the Monetary Policy Rate (MPR) at 12.50 percent; retain the Cash Reserve Ratio (CRR) at 27.5 percent; retain the Liquidity Ratio at 30 percent; and retain the asymmetric window at +200 basis point and -500 basis points, around the MPR.
The Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalisation depreciated from week open highs of 24,287.66 points and N12.670 trillion respectively to 24,269.58 points and N12.660trillion.
Stocks that led the negative close include: Cutix which decreased from N1.82 to N1.64, after it lost 18kobo or 9.89percent. Neimeth also decreased from N1.5 to N1.35, after losing 15kobo or 10percent; Access Bank decreased from N6.2 to N6.1, losing 10kobo or 1.61percent. ETI decreased from N4.35 to N4.25, losing 10kobo or 2.30percent; while Zenith was down from N15.75 to N15.65, down by 10kobo or 0.63percent.
In 3,258 deals, investors exchanged 305,103,325 units valued at N2.100billion.
