Market reverses gains, dips by N65 billion

The Nigerian Exchange Limited reversed gains to close on a downward note yesterday , with market capitalisation declining by N65 billion.The Nigerian Exchange Limited reversed gains to close on a downward note yesterday , with market capitalisation declining by N65 billion.

On will shape the market in the next trading session, analysts at Vetiva Dealings and Brokerage said: “With the capital market environment bereft of drivers to alter the risk-off stance towards the equity market, we do not foresee a situation where the market will end the week in the green; that said, we expect buy-side interest to remain skewed towards low-mid cap names in tomorrow’s action.”

On the contrary, Transco Hotel topped losers’ chart, declining by 10 per cent to close at N90. Chams Plc trailed with a loss of 9.72 per cent to close at N1.95 kobo, Eterna Plc fell by 9.55 per cent to close at N19.90 kobo, Ikeja Hotel dipped by 9.09 per cent to close at N7 while Thomas Wyatt was down by 8.88 per cent to close at N1.54 kobo.

Unauthorised access to telecommunications and other critical national infrastructure sites in the country has been banned as the Federal Government has finally gazetted the ‘Designation and Protection of Critical National Information Infrastructure Order 2024’.Minister of Aviation and Aerospace Development, Festus Keyamo, has hit the ground running with hands-on interventions in the troubled aviation sector.

The Managing Director of DataPro Limited, Abimbola Adeseyoju, has called on the government at all levels to mandate its agencies to demand credit rating reports before committing government funds to any investment.

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