The Nigerian Stock Exchange (NSE) commenced the week with a decline, shedding 0.89%, equivalent to an estimated N500 billion, in market capitalization by the end of trading on Monday.

The market’s negative start to new week was majorly driven by investors who sold Airtel Africa Plc which led league of laggards.

Airtel share price dropped from a high of N2,200 to N1,980, down by N220 or 10percent.

It was followed by Berger Paints which dropped from N13.70 to N12.35, losing N1.35 or 9.85percent, while IMG decreased from N13.75 to N12.40, down by N1.35 or 9.82percent.

The All Share Index (ASI) closed south from 99,587.25 points recorded the preceding trading day to 98,703.68 points while the market capitalisation dropped from N56.323trillion to N55.823trillion. The market’s year-to-date (YTD) return stood lower at 32 percent.

Access Holdings, UBA, GTCO, and Zenith Bank were the most traded stocks on Monday as investors in 10,624 deals exchanged 421,727,563 shares worth N8.953billion. CONTINUE READING