Lockdown: Stock market gains N28bn in two weeks

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Shareholders of quoted firms on the floor of the Nigerian Stock Exchange recorded a gain of N28bn during the first two weeks of lockdown over the COVID-19 pandemic ravaging the country.

Market watchers had speculated that the announcement by the Federal Government ordering restriction of movements in Lagos, Ogun states and the Federal Capital Territory, Abuja for a period of first 14 days would dampen investors’ sentiment.

Also, the All-Share Index grew by 53.24 basis points or 0.25 per cent. The index measures the performance of the stock market and reflects how prices of stocks have moved, which in turn determines how much investors made as gains or losses. Through the activation, the exchange has continued trading during normal hours and days by providing remote trading access for dealing member firms through FIX Protocol and Virtual Private Network platforms.

However, market breath closed negative as the number of gainers at the close of trading session was 18 while decliners closed at 20.

 

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Belgique Dernières Nouvelles, Belgique Actualités