Nigerian Breweries ends Nigerian Stocks’ 9-day winning streak

 Nigerian Breweries ends Nigerian Stocks’ 9-day winning streak

Nigerian Breweries ends Nigerian Stocks’ 9-day winning streak.

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Nigerian Stock Exchange investors totalled N80.44 billion in losses on Monday as stocks reversed a nine-day uptrend.

On Monday, the NGX All-Share index declined by 0.38% to 40,714 index points from 40,868.36 index points on Friday, while the stock market capitalization fell from N21.30 trillion to N21.22 trillion.

Trading volume by investors plummeted by 42.3% to 91.31 million shares worth N2.58 billion in 4,395 deals, compared to 331.06 million shares worth N2.92 billion in 3,986 deals on Friday.

NGX Industrials and Consumer Goods fell by 0.58% and 1.0%, respectively, while Banks and Insurances gained 0.75% and 0.95%. On the NGX Oil and Gas index, nothing changed

According to the market breadth indicator, 18 tickers appreciated against 17 losers.

Top 5 gainers

NEM Insurance Plc led the chart with a 9.95% soared in its share price to close at N2.10 per share. Following closely behind was Champion Breweries Plc, where shares rose 9.52% to N2.30

Ecobank Transnational Incorporated gained 9.52%, Royal Exchange Plc surged by 8.77%, and Lafarge Africa Plc propelled high by 4.93%.

Top 5 losers

As the top loser of the day, Sovereign Trust Insurance Plc ended at N0.22 per share, down 8.33%.

The closing price of Nigerian Breweries Plc was N46.50 per share, down by 6.06%. The share prices of AIICO Insurance Plc, University Press Plc and Universal Insurance Plc fell by 5.26 per cent, 5.06% and 4.55%, respectively.

Olumide Adesina

Olumide Adesina a France-born Nigerian, a Certified Investment Trader, with more than a decade of working expertise in Investment and Trading. He is also a reputable author and writer for CoinDesk and FxEmpire.

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