Analysts at Cordros Securities said, “The domestic equities market started the week’s trading with bearish sentiments, as investors took profits off FBNH and WAPCO stocks. Thus, the All-Share Index settled lower by 0.1 per cent at 49,626.05 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at -0.4 per cent and +16.2 per cent, respectively.
“The total volume traded declined by 72.9 per cent to 86.59 million units, valued at N1.17bn, and exchanged in 3,377 deals. GTCO was the most traded stock by volume and value at 19.47 million units and N385.59m, respectively. “Analysing by sectors, the insurance , banking and industrial goods indices declined, while the oil & gas and consumer goods indices closed flat.
“As measured by market breadth, market sentiment was positive as 13 tickers gained relative to 12 losers. MULTIVERSE and FTNCOCOA topped the gainers’ list, while BETAGLA and NEM recorded the most significant losses of the day.”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.
Even a gain at the NGX in these perilous times, remains a loss - the collapsing naira value ensures that. To properly calculate this loss, the exchange rate of $ to naira should be factored in 😢
Continue. Very soon we will lose the whole country.