Stock market starts week with bearish trend, investors lose N24.83

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The Nigerian Exchange (NGX) All-Share Index began the week’s trading on a downward note, shedding 4 basis points to close at 104,518.14 points, compared to the previous session’s 104,562.06 points.

The market’s negative performance was attributed to investors’ profit-taking activities in major stocks such as FBNH (-2.11%), STANBIC (-1.79%), NB (-0.85%), and TRANSCORP (-1.41%), along with 13 additional stocks.

As a result of the profit-taking, the overall market capitalization experienced a slight decline of 0.04%, reaching N59.09 trillion. Investors incurred a loss of N24.83 billion in value during the trading session.

Market activity for the day was negative, with both volume and value traded declining by 12.45% and 13.81%, respectively, to 545.49 million units and N14.61 billion.

Source: Daily Trust

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