Stock market sheds N45bn as 22 firms lose - Nigeria Business News

The Nigerian Stock Exchange recorded a loss of N45bn in its market capitalisation on Monday after the shares of 22 firms depreciated in value.

The NSE All-Share Index dropped points at week open, shedding 0.47 per cent amid mixed performances in key sectors.

The market capitalisation slid to N9.308tn from N9.353tn, while the NSE ASI fell to 27,103.38 basis points from 27,232.62 basis points at the close of trading on the Exchange’s floor. A total of 152.329 shares worth N2.290bn exchanged hands in 3,406 deals. In all, only 15 stocks appreciated in value.

Unity Bank Plc, Oando Plc, Honeywell Flour Mill Plc, Infinity Trust Mortgage Bank Plc and Lafarge Africa Plc emerged as top five losers.

Unity Bank shares dropped by N0.07 (5.83 per cent) to close at N1.13 from N1.20, while those of Oando slid to N6.65 from N7, shedding N0.35 (five per cent).

Honeywell Flour Mill share price also recorded a loss of N0.08 (4.62 per cent) to close at N1.65 from N1.73, while that of Infinity Trust Mortgage Bank closed at N1.47 from N1.54, losing N0.07 (4.55 per cent).