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Published 29 April 2021
Investors in the Nigerian stock market lost N274bn on Wednesday as 23 firms saw their share prices drop at the end of trading.
The Nigerian Stock Exchange All-Share Index fell by 1.33 per cent to 38,781.48 basis points from 39,305.48bps.
The market capitalisation of equities declined to N20.30tn on Wednesday from N20.58tn on Tuesday.
A total of 259.51 million shares valued at N1.91bn were traded by investors in 3,547 deals at the end of trading on the floor of Nigerian Exchange Limited.
FTN Cocoa a Plc led the losers as its share price dropped by 10 per cent to close at N0.36.
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’Femi Asu
The nation’s stock market halted its eight-day losing streak on Thursday on the back of the price appreciation recorded by Dangote Cement Plc and six other stocks.
The market, which had declined for eighth straight trading sessions amid negative sentiment, rebounded on Thursday despite the losses recorded by 46 stocks.
The All-Share Index of the Nigerian Stock Exchange rose by 0.78 per cent to 41,014.30 basis points while the market capitalisation increased by N170bn to N21.29tn.
The top five gainers at the end of trading on the floor of the NSE were Dangote Cement, Mutual Benefits Assurance Plc, Sovereign Trust Insurance Plc, Vitafoam Nigeria Plc and Unilever Nigeria Plc.
TODAY
December 14, 2020
The equities market shed N463.7 billion last week as the bullish streak was halted by persistent profit taking. Following the unprecedented growth recorded in the month of November, many investors have been locking in profits. Despite the pockets of profit taking, the market had maintained a positive weekly performance.
However, that positive momentum could not be sustained last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 2.5 per cent to close at 34,250.74. Similarly, market capitalisation shed N463.7 billion to be at N17.902 trillion. The year-to-date (YTD) growth moderated to 27.6 per cent.
Although the profit taking is expected to continue, analysts remained optimistic, saying the market still offers better investment alternative.
Goddy Egene
The equities market shed N463.7 billion last week as the bullish streak was halted by persistent profit taking. Following the unprecedented growth recorded in the month of November, many investors have been locking in profits. Despite the pockets of profit taking, the market had maintained a positive weekly performance.
However, that positive momentum could not be sustained last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 2.5 per cent to close at 34,250.74. Similarly, market capitalisation shed N463.7 billion to be at N17.902 trillion.
The year-to-date (YTD) growth moderated to 27.6 per cent.
Although the profit taking is expected to continue, analysts remained optimistic, saying the market still offers better investment alternative.