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Bearish sentiment strengthened as NSE capitalisation dips N75b

Nigerian Stock Exchange The Nigerian Stock Exchange (NSE) commenced trading for the week on a downward note, following losses recorded by bellwethers, causing market capitalisation dipped further by N75 billion. At the close of trading yesterday, the All-Share Index (ASI) decreased by 144.78 absolute points or 0.35 per cent to close at 41,564.31 points. Similarly, the overall market capitalisation shed N75 billion to close at N21.744 trillion. The downturn was impacted by losses recorded in large and medium value stocks, including Guaranty Trust Bank, PZ Cussons Nigeria, Flour Mills of Nigeria, Unilever Nigeria, and Champion Breweries. x Analysts at United Capital Plc said the direction of corporate releases would drive the performance of the equity market this week. “The recent hike in rates in the NTB and OMO posed

Market sustains bearish as index dips further by 0 10%

  At the close of transactions yesterday, the ASI fell by 43.78 absolute points or 0.10 per cent to close at 42,000.01 points. Similarly, the overall market capitalisation decreased by N23 billion to close at N21.971 trillion   The downturn was impacted by losses recorded in medium and large value stocks, including Mills of Nigeria, Guaranty Trust Bank, Lafarge Africa, Champion Breweries, and UAC of Nigeria (UACN). Analysts at Afrinvest Limited said: “We believe the expectations of and trend in corporate releases will influence performance this week.” x     Vetiva Dealing & Brokerage also said: “The bears continued to dominate the domestic bourse in the last three sessions, pushing the ASI down by 0.97 per cent WTD, while the YTD performance reduced to +4.29% (vs +5.32 per cent posted on Friday).

Renewed bargain-hunting lifts stock market index by N2b

Insurance stocks lift NSE capitalisation by N50bn

Nigerian Stock Exchange (NSE) reversed two days losses to close upbeat, yesterday, as investors renewed interest in insurance stocks. At the close of trading, market capitalisation appreciated by N50 billion to close at N21.525 trillion. The All-Share Index (ASI) also grew by 96.09 absolute points, representing an increase of 0.23 per cent to close at 41,147.72 points.   x     The market gain was driven by price appreciation in large and medium capitalised stocks such as Lafarge Africa, Ardova Plc, BOC Gases, Northern Nigeria Flour Mills (NNFM), and Flour Mills of Nigeria.     Analysts at Afrinvest Limited said: “We expect the equities market to sustain this bullish performance given the positive investor sentiment.”

Nigerian stock market extends losing streak, drops 0 07%

Trading activities on the nation s bourse extended losing streak on Tuesday, declining further by N16 billion due to profit taking on 21 stocks. Specifically, the All-Share Index lost 30.75 points or 0.07 per cent to close at 41,051.63, from 41,082.38 posted on Monday. Consequently, month-to-date and year-to-date returns moderated to 1.9 per cent. In the same vein, the market capitalisation lost N16 billion to close at N21.474 trillion compared with N21.490 trillion recorded on Monday. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are Ardova Plc, BUA Cement, UACN, Access Bank and Red Star Express. Analysts at Afrinvest Limited said,

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