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.
These companies are likely to pay interim dividends in H1 2021 nairametrics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nairametrics.com Daily Mail and Mail on Sunday newspapers.
Chief Valentine Ozigbo has emerged as the governorship candidate of the Peoples Democratic Party (PDP) in Anambra State, Igbere TV reports.
The 50-year-old Mr Ozigbo polled 62 out of 218 votes to
Stock investors lose N360bn, market cap falls below N20tn punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
Rising issuance of Commercial Papers (CPs) in Debt Capital Market (DCM) over regular equities financing has become a source of worry to capital market operators, as stakeholders fear that the trend.