Nigerian Stock Exchange on Monday…

Market Resumes Week with N54bn Loss as Bears Bare Claws
Reports by Ernest Omoarelojie

Trading at the floor of the Nigerian Stock resumed on Monday with a N54b dip in fortunes. The total share volume also dipped by 5.18 per cent with an exchange of 209.21 million shares valued at N1.76 billion in 3,390 deals. The outcome left investors reeling in distress, confused over what the days ahead portend.
Despite the downturn, transactions in Access Bank shares topped the activities chart, tradinng 22.72 million shares at a market value of N193.99 million followed by AXA Mansard Insurance which traded 16.70 million shares at N15.05 million. Zenith Bank came third with share trade volume of 16.15 million valued at N384.58 million.
Mutual Benefits Assurance came a distant fourth with share volume sale of 14.69 million worth N6.04 million just as Chams transacted 13.48 million shares worth N2.70 million.
The gainers’ table saw Meyer occupying podium position in percentage term, coming up with 8.77% rise to close at 62k per share. Champion Breweries came next with 6.06% to close at N2.10, trailed by Julius Berger with an improved 4.71% rally to end the day’s trading at N20 per share.
Regency Alliance Insurance shares also went up with 4% to close at 52k while Ikeja Hotel garnered a 3.19% rally to close at 97k per share.
The losers’ table had Fidson Healthcare, Lasaco Assurance, FYN Cocoa Processors, Mutual Benefits Assurance and Cornerstone Insurance in conference. While Fidson Healthcare chaired the table, dropping at 9.80% to close market N4. 60 per share, Lasaco cochaired the chart with a 9.33% drop to close the trade conference at N1.36 per share.
FTN Cocoa Processors dropped 9.09% to close at 30k per share while Mutual Benefits Assurance dipped 8.89% to close at 41k. Cornerstone Insurance shares looked south with a 5.17% drop to close at 55k per share.
Total share volume traded on Monday dipped by 5.18% over an exchange of 209.21 million shares valued at N1.76b in 3,390 exchanges an outcome which contrasts Friday trading which stood at 220.64 million traded shares worth N2.53 billion traded in 2,952 deals.

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