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Index dips further by 0.05% amid losses in Stanbic IBTC, 13 stocks | The Guardian Nigeria News - Nigeria and World News

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Following losses in Stanbic IBTC and 13 other stocks, the Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, causing the All-share index to depreciate further by 0.05 per cent.

Specifically, the All Share Index decreased by 29.35 absolute points, representing a dip of 0.05 per cent to close at 54,886.04 points. Similarly, the market capitalisation lost N16 billion to close at N29.900 trillion.

“Taking positions in stocks with solid valuations and dividend yields ahead of the dividend-paying season remains the choice strategy. However, we see room for extended profit-taking activities.” Nigerian Breweries depreciated by 3.14 per cent to close at N38.55 kobo. Jaiz Bank lost 2.25 per cent to close at 87 kobo. CAP fell by 1.04 per cent to close at N19. Fidelity Bank declined by 77 per cent to close at N5.15 kobo. Sterling Bank and Dangote Sugar Refinery also dropped 66 per cent and 54 per cent to close at N1.50 kobo and N18.40 kobo.

 

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