NSE continues on losing streak

The bear maintained its choky grip on Nigeria Stock Exchange on Monday as market capitalisation of the listed equities dropped by 0.44 per cent or N53 billion  from  N11.967 trillion Friday to N11.914 trillion.

Last Thursday, the market lost 3.88 per cent or N485 billion in capitalization pushing it down from  N12.502 trillion Wednesday to N12.017 trillion fuelling concern of another burst cycle in the fragile Nigerian market.

Similarly, NSE All-Share Index dropped by 3.88 per cent to close at 37,406.73pts on Thursday from 38,915.54 recorded Wednesday, while shares worth N9 billion were traded.

Still on downslide,  the NSE All-Share Index dropped by 0.44 per cent on Monday from 37,249.93 basis point Friday to 37,085.12 basis points, while shares worth N3 billion were traded.

At the close of trading, Paint and Coat Company  Plc led 21 other stocks on the price gainers' chart rising by 9.33 per cent or N0.07 kobo gain to close at N0.82 per share; GNI  Plc rose by 9.09 per cent or N0.05 kobo to close at N0.60 kobo per share; Port Paint Nigeria  Plc followed on the chart, with a 8.59 per cent or N0.34 kobo gain to close at N4.30 per share.

Avon Crown led 32 other stocks on the losers’ chart by shedding 10 per cent or N0.19 kobo to close at N1.71 kobo per share; NPF Micro Finance Bank shed  10 per cent or N0.12 per share to close at N1.08 kobo per share; Prestige Assurance  plc shedding 10 per cent or N0.06 kobo per share to close at N0.54 kobo per share.