Investors in Nigeria’s listed stocks lost about N83billion at the close of trading session on Monday, August 30, prompting the market’s performance indicator to dip by 0.40percent.
Though, the month of August has seen remarkable buy activities on Nigerian Bourse but not enough to reverse the negative return seen year-to-date (YtD) which stood higher at -2.34percent.
Market watchers had expected the Nigerian Bourse activity levels to improve largely on the back of demand in the Tier-1 banking names as seen last weekend when Zenith Bank Plc released its half-year audited financial scorecards. Despite the negative close on Monday, the half-year (H1) results and expected interim dividends are expected to spur buy-side activity in the short-term.
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Top on the laggards list on Monday are stocks like Champion Breweries Plc which decreased from N2.20 to N2.03, down by 17kobo or 7.73percent. It was followed by Eterna Plc which dipped by 54kobo or 7.20percent, from N7.50 to N6.96.
Also, Linkage Assurance Plc decreased from a high of 62kobo to 58kobo, shedding 4kobo or 6.45percent of its day-open value, Oando Plc decreased from N4.80 to N4.56, losing 24kobo or 5percent, while Caverton dropped from N1.85 to N1.76, down by 9kobo or 4.86percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation which had opened this week at 39,485.65 points and N20.572trillion respectively, stood lower at 39,326.67 points and N20.489trillion at the close of trading session on Monday August 30.
Transcorp, Honeywell Flourmills, Consolidated Hallmark Insurance, Oando and UPDC were most traded stocks Monday on the Nigerian Exchange Limited. In 4,715 deals, investors exchanged 301,014,307 shares valued at N1.535billion.
