Equities Market Value Topples by 12billion As Profit-taking Opens New Week

Investors in the Nigerian Stock Market engaged in intense profit taking as the new market week kicked off on Monday, June 6, as transactions closed in the red.

Aggregate market value of all quoted equities on the bourse crashed marginally by N12 billion from its opening value of N9.491 trillion to close at N9.479 trillion.

Increased sale orders turned the overall market situation into a buyer’s market, closing most transactions on discount.

With this, the average year-to-date return now stands at -3.64 points.

There were 24 losers against 16 gainers yesterday as turnover slowed down below average.Turnover also dropped below average with the exchange of 142.33 million shares valued at N1.43 billion in 3,695 deals.