Goddy Egene
The value of the Nigerian equities declined below the N20 trillion mark last week to N19.627 trillion, following sustained profit taking in bellwether counters.
The market, which had declined by 1.30 per cent the previous week, posted another depreciation last week with the Nigerian Exchange (NGX) Limited All-Share Index falling by 2.56 per cent to close at 37,658.26, while market capitalisation shed N516 billion to close at N19.627 trillion.
The bears dictated proceedings in the local bourse in four of the five days while sell-offs in Airtel Africa Plc, Dangote Cement Plc, BUA Cement Plc and MTN Nigeria Plc pushed the market capitalisation below N20 trillion for the first time this year.
Stock investors lose N360bn, market cap falls below N20tn
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Equities Market Rebounds as Bulls Return
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