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Market dips by N158 billion amid losses in MTNN, NGX

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The Latest news in Nigeria and world news. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news.

Following losses recorded by many bluechip stocks, especially MTN Nigeria Communications and Nigerian Exchange Group , trading activities on the domestic stock market closed in a downturn yesterday, as market capitalisation depreciated by N158 billion.

Vetiva Dealings and Brokerage said: “While large-cap counters have continued to dictate the market direction, we expect similar cherry-picking and profit-taking actions across the board tomorrow.” The total volume of trades increased by 80.5 per cent to 657.52 million units, valued at N4.60 billion, and exchanged in 6,646 deals. Transactions in the shares of Universal Insurance led the activity with 336.294 million shares worth N80.457 million.

NIDF is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria. It aims to provide investors with regular and stable income by making primarily debt investments in infrastructure projects located in Nigeria. Cases of cybercrimes, terrorism financing and money laundering in Nigeria could be tamed if the government adopts new technology, stakeholders said at a Fin-Crime Summit.

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