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Stock market opens week on a negative note

…FGN savings bond for June opens

Nigeria’s equities market opened the new week in red, after decreasing by N103billion at the close of trading on Monday, June 3.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated from preceding day’s 99,300.38 points and N56.172 trillion respectively to 99,118.86 points and N56.069 trillion.

In 8,082 deals, investors exchanged 349,590,093 shares worth N5.237billion.

Investors sold mostly the shares of Etranzact which decreased most from N5.60 to N5.05, losing 55kobo or 9.82percent, followed by that of Jaiz Bank which was down from N2.28 to N2.06, losing 22kobo or 9.65percent, and Unity Bank which decreased from N1.53 to N1.38, losing 15kobo or 9.80percent.

Veritas Kapital, GTCO, Access Holdings and AIICO Insurance were actively traded stocks.

The monthly FGN Savings Bond which opened Monday June 3 and will close on Friday June 7.

The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria announced the June edition of the FGN Savings Bond with an interest rate of 17.414 percent for 2 years and 18.414percent for 3 years.

The stock market’s year-to-date (YtD) return stood lower at 32.63 percent.