Building of the Nigerian Stock Exchange (NSE). PHOTO: AYODELE ADENIRAN The Nigerian Exchange Limited (NGX) extended bearish sentiment to three consecutive trading sessions yesterday, as more highly capitalised stocks depreciated in price. This resulted to a further slide in market capitalisation by N167 billion. The All-Share Index (ASI) decreased by 319.08 absolute points, representing a drop of 0.81 per cent to close at 39,114.73 points while the overall market capitalisation value lost N167 billion to close at N20.470 trillion. The bearish sentiment was sustained on price depreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), Dangote Cement, BOC Gases, Red Star Express and SCOA Nigeria. Analysts at Afrinvest Limited said: “We expect the market to close in the red for the week.”
Building of the Nigerian Stock Exchange (NSE). PHOTO: AYODELE ADENIRAN
The bears strengthened hold on the Nigerian Stock Exchange (NSE), as more blue-chip stocks joined the league of losers, causing investors wealth to depreciate further by N426 billion.
At the close of yesterday, the All-Share Index (ASI) dropped by 814.15 absolute points, a 1.96 per cent fall to close at 40.696.01 points. The overall market capitalisation lost N426 billion to close at N21.290 trillion.
The market losses were driven by price depreciation in large and medium capital stocks including Fidson Healthcare, Chemical & Allied Products (CAP), Regency Alliance Insurance, Sovereign Trust Insurance, and Sunu Assurance.
Building of the Nigerian Stock Exchange (NSE). PHOTO: AYODELE ADENIRANThe bears sustained dominance at the Nigerian Stock Exchange, as blue-chip stocks joined the league of losers, resulting in a further slide in market capitalisation by 112 billion.
Yesterday, the All-Share Index (ASI) dropped by 214.21 absolute points, representing a fall of 0.51 per cent to close at 41,785.80 points. Also, the overall market capitalisation lost N112 billion to close at N21.859 trillion. x
The market loss was driven by price depreciation in large and medium capital stocks amongst which were; Dangote Cement, Julius Berger, Northern Nigeria Flour Mills (NNFM), Champion Breweries, and Zenith Bank.
Following sustained bargain-hunting in most blue-chip stocks, transactions at the Nigerian Stock Exchange (NSE) continued upbeat, as market capitalisation of listed equities hit N22 trillion mark.