Nigerian stocks weakened further on Friday as the benchmark index narrowed by 1.24 per cent, taking a bashing from investors’ frantic efforts to swiftly dispose shares and cash in after gains had gradually accumulated for some days.
Shares began to plateau on Thursday, but the downward shift gained pace by as much as N247 billion the session after as the bears stormed the mark in full force with their eyes on the heaps of gains garnered in the nine days to July 4. At the forefront of the retreat was Airtel Africa, with Vitafoam, NAHCO and Eterna also stoking the loss.which measures the depth of investors’ faith in the market, closed on a negative note was as 21 losers emerged, compared to 20 gainers.
The all-share index toppled by 475.68 basis points to close at 37,994.19, while market capitalisation closed at N19.796 trillion.FTN Cocoa led the gainers’ chart, appreciating by 9.68 per cent to close at N0.34. John Holt went up by 8.96 per cent to N0.73. Unity Bank rose to N0.59, notching up 7.27 per cent.
Neimeth added 5.88 per cent to end trade at N1.80. WAPIC completed the top 5, climbing by 5.36 per cent to N0.59.Airtel Africa led losers, declining by 9.99 per cent to close at N601. NAHCO shed 9.65 per cent to close at N2.34.
They should try listing kidnapping on the stock exchange
“Take profit and deepen loss in the same sentence I'm not understanding “
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
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