The Nigerian Exchange Limited reopened the week with N750 billion total loss amid sell pressures in Dangote Cement Plc and 16 stocks. At the close of transactions, the all-share index shed 1,320.52 pointsThe Nigerian Exchange Limited reopened the week with N750 billion total loss amid sell pressures in Dangote Cement Plc and 16 stocks. At the close of transactions, the all-share index shed 1,320.52 points, representing a decline of 1.36 per cent to close at 95,779.
“Market activity is anticipated to rise due to ongoing banks’ recapitalization efforts and anticipated corporate actions in the near term. Conversely, elevated interest rates in the fixed-income market are likely to exert negative pressure on the equities market. Oando followed with a gain of 9.9 per cent to close at N39.40 kobo, while FTN Cocoa Processors appreciated by 9.57 per cent to close at N2.06 kobo. On the other side, Dangote Cement led others on the losers’ chart with 10 per cent to close at N532. Secure Electronic Technology followed with a decline of 9.76 per cent to close at 37 kobo, while Africa Prudential declined by 9.68 per cent to close at N8.4.
The Nigerian Exchange Limited reopened the week with N750 billion total loss amid sell pressures in Dangote Cement Plc and 16 stocks. At the close of transactions, the all-share index shed 1,320.52 points The current economic hardship in the country may deprive many retail investors of the opportunity to participate in the ongoing bank recapitalization, investment experts have observed.
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