Mobil, MTNN, Zenith, GTB, other stocks cause market’s negative start
…NSE ASI down 0.44%, dips 1.14% month-to-date
Nigeria’s stock market opened this week trading (Monday July 13) on a negative note, corroborating BusinessDay’s earlier report that the market will remain pressured this week.
The continued spread of the Coronavirus and its negative impact on major global and domestic indicators remain a source of worry to investors and businesses.
The market’s benchmark performance indicator printed lower at 24,200.60 points, representing a decline of -0.44percent compared to preceding day high of 24,306.36 points; while the value of listed equities on the local bourse decreased by N56billion to N12.624trillion as against preceding trading day high of N12.680trillion.
The stock market’s negative return year-to-date (YtD) stood higher at -9.84percent. In this month of July, stock market has decreased by -1.14percent.
In 3,950 deals, investors exchanged 231,234,804 units valued at N2.154billion. Sterling Bank, FCMB, Fidelity Bank, GTBank and MTNN were actively traded stocks on Monday July 13, 2020.
Mobil Oil dipped most, from N192.6 to N173.4, losing N19.2 or 9.97percent; MTNN followed after its share price decreased from N116.1 to N115, down by N1.1 or 0.95percent.
Also, Zenith Bank made the top losers league after its share price decreased from N16.7 to N16.2, losing 50kobo or 2.99percent. GTBank dropped from day open high of N22.45 to N22, shedding 45kobo or 2percent, while Eterna Plc dropped from N2.24 to N2.09, losing 15kobo or 6.70percent.