The Nigerian Stock Exchange (NSE) reopened bearish yesterday, occasioned by losses in most blue-chip stocks, especially Neimeth International, and Cutix as market capitalisation lost N10 billion.
At the close of transactions Monday, the All-Share Index also slipped by 18.08 absolute points or 0.07 per cent to close at 24,269.58 points. Similarly, the overall market capitalisation shed N10 billion to close at N12.660 trillion.
Analysts at Vetiva Capital said: “With the absence of any positive event capable of lifting investors’ sentiment, coupled with the lack of significant positive movement in large cap stocks, the domestic bourse extended last week’s bearish performance into today’s session. Market breadth was slightly negative, with 12 gainers versus 13 losers. GlaxoSmithKline Consumer Nigeria recorded the highest price gain of 9.47 per cent to close at N5.20 per share.
On the other hand, Neimeth International Pharmaceuticals led the losers’ chart by 10 per cent to close at N1.35 per share.
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