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’Femi Asu
Investors lost N20bn on Wednesday as the nation’s stock market extended its decline to the third consecutive trading session amid profit-taking.
Five insurance stocks were among the top six losers at the end of trading on Wednesday.
The market had on Monday started the month on a negative note, ending a five-day gaining streak.
The market capitalisation of equities listed on the Nigerian Stock Exchange had risen by 3.44 per cent last week as the market continued its upward trend for five consecutive trading sessions.
Investors gained over N1tn in January as the market capitalisation rose to N22.19tn on Friday from N21.06tn at the start of the month.
By Goddy Egene
The stock market surged further yesterday with the Nigerian Stock Exchange (NSE) rising 1.21 per cent to close at 41,584.94 as companies begin to release their unaudited financial results for the year ended December 2020.
Apart from the benchmark index that appreciated, market capitalisation added N259.4 billion to close at N21.8 trillion. Similarly, activity level advanced as volume and value traded rose 40.5 per cent and 110.8 per cent to 467.9 million shares and N5.6 billion respectively.
The bulls were in total control of the session yesterday as 32 stocks appreciated, while 19 depreciated. Although gains by Airtel Africa Plc, MTN Nigeria Plc and Lafarge Africa Plc influenced the rise in the NSE ASI, RT Briscoe Nigeria Plc led the price gainers’ table with 10 per cent.