{"id":47314,"date":"2022-07-04T19:52:36","date_gmt":"2022-07-04T18:52:36","guid":{"rendered":"https:\/\/dailynews24.ng\/?p=47314"},"modified":"2022-07-04T19:52:36","modified_gmt":"2022-07-04T18:52:36","slug":"stock-market-records-losses-capitalisation-down-by-n20bn","status":"publish","type":"post","link":"https:\/\/dailynews24.ng\/stock-market-records-losses-capitalisation-down-by-n20bn\/","title":{"rendered":"Stock market records losses, capitalisation down by N20bn"},"content":{"rendered":"
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Bearish sentiment resurfaced in the Nigerian stock market on Monday, following a sell-off in some bank stocks such as\u00a0 Fidelity Bank, Sterling Bank, Access Bank, and First Bank of Nigeria Holdings (FBNH), among others. <\/strong><\/p>\n

Specifically, the market capitalisation lost N20.6 billion or 0.07 per cent to close at N27.921 trillion from N27. 941 trillion on Friday.<\/p>\n

Also, the All-Share Index (ASI) declined by 38.22 points or 0.07 per cent to close at 57,791 against 51,829 the same day.<\/div>\n<\/div>\n
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Income Tax Returns: FIRS extends due date for coys \u00a0<\/a><\/div>\n<\/blockquote>\n
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Accordingly, the year-to-date returns increased to 21.24 per cent.<\/p>\n

Overall, the market was negative with 17 losers, relative to 18 gainers.<\/p>\n

Fidson Pharmaceutical drove the gainers\u2019 chart in percentage terms by 9.82 per cent to close at N12.30 per share.<\/p>\n

Learn Africa followed with a gain 9. 79 per cent to close at N2.47, while UPDC\u00a0 rose by 9.71 per cent to close at N1.13 per share.<\/p>\n

Prestige Insurance went up by 8.33 per cent to close at 39k, while Regent Alliance Insurance appreciated by 7.69 per cent to close at 28k per share.<\/a><\/p>\n

On the other hand, Conoil led the losers\u2019 chart in percentage terms by 9.9 per cent to close at N25.95 per share.<\/p>\n

Redstar Express and RT Briscoe followed with 9.09 per cent each to close at N2.50 and 40k per share.<\/p>\n

Cutix shed 7.69 per cent to close at N2. 28 per share, while Unity Bank lost 6.67 per cent to close at 42k per share.<\/p>\n

Also, the total volume traded increased to 194.122 million units valued at N2.82 billion and exchanged in 4,899 deals.<\/p>\n

Transactions in the shares of Transcorp topped the activity chart with 25.07 million shares valued at N31.77 million.<\/p>\n

Guaranty Trust Holding Company (GTCO) followed with 20.18 million shares worth N413.02 million, while United Bank for Africa (UBA) traded 15.59 million shares valued at N131.22 million.<\/p>\n

AIICO traded 13.61 million shares valued at N8.32 million, while First Bank of Nigeria (FBNH) transacted 11.63 million shares worth N131.92 million.<\/a><\/p>\n

Analyst at GTI Securities said, \u201cEquity market closed transaction for today negative, as bargain hunting resumes. We expect cautious trading to continue in the week.\u2019<\/p>\n

NAN<\/p>\n