Stock market halts gains as investors lose N65 billion | The Guardian Nigeria News - Nigeria and World News

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The bears resurfaced on the trading floor of the Nigerian Exchange Limited (NGX) yesterday, after six consecutive days of uninterrupted bullish streak as losses in Betaglas and BUA cement dragged capitalisation by N65 billion.

Specifically, at the reopening of transactions yesterday, the All Share Index decreased by 117.89 absolute points, representing a dip of 0.25 per cent to close at 47,436.45 points. Similarly, the market capitalisation lost N65 billion to close at N25.837 trillion.

“We expect money market yields to continue to respond to the MPC’s persistent policy tightening, driving renewed interest from investors. In addition, technical signals indicate the market is due a breather following the extended rally,” United Capital added. Thomas Wyatt Nigeria went up by 8.33 per cent to close at 39 kobo, while unity Bank appreciated by 7.55 per cent to close at 57 kobo, per share.

 

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