Business

Nigeria’s Stock Market Begins February Bearish

The Nigerian stock market started the new week  and month of February on a bearish note after it reported an upward trend for five consecutive trading sessions last week.

On Monday, the Nigerian Stock Exchange (NSE) All-Share Index dropped by 0.13 percent to 42,357.90 basis points from 42,412.66bps recorded on Friday.

Also, the market capitalisation fell to N22.16tn from N22.19tn.

The market breadth, however, was positive with 35 gainers against 28 losers.

Nigeria's Stock Market Begins February Bearish

Honeywell Flour Mill Plc led the gainers 10 percent to close at N1.43 per share. Champion Breweries Plc appreciated by 9.97 percent to close at N3.42 per share, while McNichols Plc increased by 9.80 percent to N0.56 per share.

Wapic Insurance Plc gained 9.26 percent to close at N0.59 per share, while Jaiz Bank Plc increased by 9.23 per cent to close at N0.71 per share.

On the other hand, Royal Exchange Plc topped the losers’ table as its share price dipped by 10 percent to N0.36.

Guinea Insurance Plc saw its share price shed 9.09 percent to close at N0.20, while African Alliance Insurance Plc dropped by eight percent to close at N0.23 per share.

Julius Berger Nigeria Plc depreciated by 7.28 percent to close at N21 per share, while Multiverse Mining and Exploration Plc lost 4.55 per cent to close at N0.21 per share.

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