16
Why investors lost money on NGX .
Trading at the domestic bourse opened the week on a bearish mood with the market capitalisation losing N340 billion in one day, due to drop in Airtel Africa.
Specifically, the market capitalisation, which opened at N20.409 trillion, dipped by N340 billion to close at N20.069 trillion.
Also, the All-Share Index shed 648.99 points or 1.66 points to close at 38,507.29 from 39,156.28 achieved on Friday.
Accordingly, month-to-date gain moderated to 0.2 per cent, while year-to-date loss increased to 4.4 per cent.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst which were; Airtel Africa, Okomu Oil Palm, Presco, Stanbic IBTC Holdings and Guaranty Trust Bank.
