NGX halts seven-day rally with N58bn loss

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The market capitalisation of the Nigerian Exchange Limited on Tuesday shed N58bn to close at N28.475tn halting a seven-day rally.

NAHCO enjoyed a 9.62 per cent appreciation and closed at N13.10 while the shares of Nigerian Breweries gained 9.38 per cent in value and closed trading at N35.00.

On the losers’ table, Geregu led with a 10 per cent dip to close trading at N290.70, Transcorp followed with a 9.96 per cent loss in its share value to close at N2.53, Afriprud lost 9.40 per cent to close at N5.30, International Breweries’ shares depreciated by 8.51 per cent to close at N4.30 and Ikeja Hotel suffered a 6.85 per cent loss to close at N1.36.

Performance across tracked indices was largely bullish as the Banking, Oil & Gas, Consumer Goods, and Insurance indices appreciated by 2.84 per cent, 1.05 per cent, 0.31 per cent and 0.07 per cent respectively, owing to gains in UBN , CONOIL and ROYALEX . On the other hand, the Industrial Goods index moderated 0.08 per cent, due to sell pressures in Wapco .All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

 

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