Trading activities on the floor of the Nigerian Stock Exchange (NSE) turned bearish for the fourth consecutive trading session Monday as the domestic bourse shed 0.8 percent even as its emerging market peers rose 3 percent.
The key performance indicator of the NSE, the All Share Index (ASI), dropped 238.62 points to close at 30,400.28 points, the lowest level in at least a year.
This implies that the ASI is down 3.3 percent so far this year, bringing the index down to 33 percent below its 52-week high of 45,321.82 points reached on January 22, 2018.
Equity investors lost N89 billion as the market capitalisation of listed equities fell to N11.3 trillion.
Performance across sectors was largely negative as NSE Industrial Goods Index emerged the lone gainer. Consumer Goods Index dropped 2.3 percent; Banking Index, 0.9 percent; Oil & Gas, 0.7 percent; and Insurance, 0.3 percent.
OLUWASEGUN OLAKOYENIKAN
