NSE opens February trading with N160 billion loss

In spite of an influx of unaudited 2019 full year results, trading on the nation’s bourse opened for February on a bearish posture, as investors’ sentiment remained weak.

Consequently, the NSE All-Share Index on Monday lost 310.13 points or 1.08 per cent to close at 28,533.40 against 28,843.53 recorded on Friday due to sell-off of tier one banking stocks.

Also, the Year-to-Date return moderated to 6.30 per cent.

In the same vein, the market capitalisation, which opened at N14.857 trillion, shed N160 billion or 1.08 per cent to close at N14.697 trillion.

A breakdown of the price movement chart shows that Forte Oil recorded the highest loss to lead the losers’ chart, dropping by N2.05 to close at N18.55 per share.

Julius Berger trailed with a loss of N1.30 to close at N21.20,…

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