Investors lose N274bn on NGX in one day vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
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Transactions on the Nigerian stock market, on Wednesday, closed in the negative region to extend the previous day’s negative sentiment, as investors’ investment declined by N274 billion.
Basically, the All-Share Index (ASI) dropped by 524.00 absolute points, representing a decline of 1.33 per cent to close at 38,781.48 basis points, while the overall market capitalisation value lost N274 billion to close at N20.296 trillion.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Guinness Nigeria, International Breweries, Ardova Plc, PZ Cussons Nigeria and UAC of Nigeria (UACN).
Analysts at Afrinvest Limited said: “In the next trading session, we expect the market to halt successive downtrends.”
Specifically, the All-Share Index advanced by 0.04 per cent or 16.71 points to close at 39,318.52 from 39,301.82 posted on Friday. Also, the market capitalisation increased by nine billion naira to N20.577 trillion compared with N20.568 trillion achieved on Friday. The market gain was driven by price appreciation in large and medium capitalised stocks, amongst which are; Nigerian Breweries, Fidson Healthcare, Lafarge Africa, Africa Prudential and Guaranty Trust Bank. Analysts at United Capital Plc anticipated that profit-taking would dominate trading following gains posted by the stock market last week. This week, we expect some profit-taking on the bourse in light of the considerable price appreciation observed last week.
NGX key market indices open week with 0 04% growth naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.
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Trading closes week upbeat with N89bn growth
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The nation’s bourse key market indicators closed the week upbeat on Friday with a growth of 0.43 per cent.
The market capitalisation increased by N89 billion or 0.43 per cent to close at N20.568 trillion against N20.479 trillion posted on Thursday.
Also, the All-Share Index which opened at 39,131.80 inched higher by 170.02 points or 0.43 per cent to close at 39,301.82.
A breakdown of the price movement chart indicates that Triple G led the gainers’ table in percentage terms, gaining 9.23 per cent to close at 71k per share.
Sovereign Trust Insurance gained 8.70 per cent to close at 25k, while Stanbic IBTC Group added 8.70 per cent to close at N50 per share.