Market capitalisation dips by N170 billion

Following losses suffered by many blue-chip stocks, transactions on the Nigerian Exchange Limited continued on a downturn yesterday, as market capitalisation declined further by N170 billion.Following losses suffered by many blue-chip stocks, transactions on the Nigerian Exchange Limited continued on a downturn yesterday, as market capitalisation declined further by N170 billion. At the close of transactions yesterday, market capitalisation of listed equities declined by 0.

Further breakdown transactions showed that ABC Transport led the gainers’ table with 10 per cent to close at 77 kobo, Oando plc followed with a gain of 9.84 per cent to close at N24.55 kobo. Ikeja Hotel added 9.7 per cent to close at N7.35 kobo, RTBriscoe gained 9.59 per cent to close at 80 kobo. Presco Plc also garnered 7.83 per cent to close at N413. On the contrary, United Capital topped losers’ chart, dropping by 9.92 per cent to close at N34.

Banking giant HSBC said Wednesday that pre-tax profits in the first half of 2024 came in at $21.6 billion, slightly lower than last year's record performance. "After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working," said Noel…

The Nigerian Economic Summit Group has expressed optimism about improved growth of the economy from the second half of the year if the executive orders and other economic plans by the Federal Government are properly executed.

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