Index Sheds 0.52%, NSE Appoints 2Baba Good Cause Ambassador

The stock market returned to bearish mode as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciated by 0.52 per cent to close at 27,527.40 after opening positively on Monday. 

The depreciation came on the a day the NSE unveiled internationally renowned award-winning musician, Innocent Ujah Idibia popularly known as 2Baba as its Good Cause Ambassador. Sell pressures in bellwether stocks such as Dangote Cement Plc, Guaranty Trust Bank Plc and Zenith Bank Plc among other 20 other price losers led the market to close negatively. Only six stocks appreciated. Consequently, the market capitalisation shed N69.2 billion to close at N13.4 trillion. 

Activity level was mixed as volume of trading 39.2 to 170.7 million shares while value rose by 60.5 per cent to N2.3 billion. The top traded stocks by volume were Access Bank Plc (65.1 million shares), GTBank Plc(17.6 million shares) and Dangote Flour Mills Plc (DFM-16.2 million shares) while GTBank Plc (N488.8 million), Access Bank Plc (N409.2 million) and DFM N324.5m) led the top trades by value.

(This Day)