NGX Opens November In The Red As Investors Lose N35bn To Profit-taking

The Nigerian equities market opened November on a negative note on Monday, as profit-taking in blue-chip and mid-cap stocks wiped N35.25 billion off investors’ wealth.
The ASI lost 54.28 points, closing at 254,245.21.
Market capitalisation fell by N35.25 billion to N165.08 trillion.
Aradel Holdings led the large-cap decliners with a 9.99 per cent drop. Access Holdings fell 7.34 per cent, Transcorp lost 5.97 per cent and Nestle Nigeria shed 3.64 per cent.
Champion and Sunu Assurances topped the losers’ chart with a 10 per cent fall each. Aradel followed, then Vitafoam (-9.97 per cent), Cornerstone (-9.89 per cent), Sovereign Insurance (-9.79 per cent) and International Energy Insur...