Nigeria’s equities investors lost about N51billion at the close of trading session on Monday September 27 as sell-side activities continues to increase on the Bourse.

The record 0.25percent decline on Monday by the market’s benchmark performance indicator –the All Share Index (ASI) –reflected on the widened negative return recorded this year which printed higher at -3.49percent.

In 3,539 deals investors exchanged 139,453,012 units valued at N1.712billion. At the close of trading, stocks like Fidelity Bank Plc, GTCO Plc, Sovereign Trust Insurance Plc and Transnational Corporation Plc were most traded on the Nigerian Exchange Limited (NGX).

Read Also: Stock market opens new week in red

“Looking ahead, we expect the market to remain in a lull, with occasional bargain hunting until 9 month-2021 results are released,” Lagos-based United Capital analysts had said in their September 27 note to equity buyers.

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AXA Mansard Insurance plc stock price led the losers’ league after its share price moved from N3.32 to N2.99, down by 33kobo or 9.94percent, while University Press Plc advanced most, from N1.02 to N1.12, up 10kobo or 9.80percent.

Chams Plc also dipped from 23kobo to 22kobo, down by 1kobo or 4.35percent. Sovereign Insurance stock also dropped from 25kobo to 24kobo, down 1kobo or 4percent. Mutual Benefit was also down from 30kobo to 29kobo, shedding 1kobo or 3.33percent. BUA Cement dropped from N68 to N66, shedding N2 or 2.94percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated from week-open highs of 38,962.28 points and N20.299trillion to 38,864.33 points and N20.248trillion.

“We anticipate a moderate start to begin the new trading week barring any significant cross trades, as investors continue to bargain hunt across sectors,” Vetiva Research analysts also said in their recent note.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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