Profit taking in NGX Group, 20 stocks drag capitalisation by N4 billion | The Guardian Nigeria News - Nigeria and World News

At the close of trading yesterday, the All-Share Index declined by 6.14 per cent, representing a decrease of 0.01 per cent, to close at 55,788.37 points. Similarly, the market capitalisation value lost N4 billion to close at N30.391 trillion.

“We believe that taking positions in stocks with solid valuations and dividend yields ahead of the dividend-paying season is a good strategy. However, we note that there may be profit-taking activities from the extended rallies.” On the other hand, Nigerian Exchange Group led the losers’ chart by 9.72 per cent to close at N26.00, per share. NPF Microfinance Bank followed with a decline of 8.47 per cent to close at N1.73 kobo.

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Market records N20b in one week as investors go for dividend-pSustained buying interest ahead of more scorecards continued last week, as the Nigerian capital market extended its gains for the third consecutive week. The increase in stocks pushed the all-share index and market capitalisation up by 0.5 per cent and N145 billion to close at 55,794.51 points and N30.395 trillion respectively.All other indices finished higher except NGX Main Board, NGX CG, NGX Banking, NGX Pension, NGX AFR Bank Value, NGX AFR Div. Yield, NGX MERI Growth, NGX MERI Value, NGX Consumer Goods and NGX Oil and Gas indices, which depreciated by 0.09.per cent, 0.74 per cent, 1.82 per cent, 0.57 per cent, 2.04 per cent,
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