News Formal

Stock Market Investors Lose N242bn In Bearish Trading

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 77%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The Nigerian equities market yesterday sustained last week’s negative run as the All-Share Index dipped by N242 billion or 0.66 per cent.

The All Share Index declined by 441.95 points, representing a decline of 0.66 per cent to close at 66,882.64 points. Accordingly, market capitalisation shed by N242 billion to close at N36.605 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications , Access Holdings, United Capital, Dangote Sugar Refinery and Oando. This week, United Capital Plc said “we expect mixed investors’ sentiments in the equities market. First, we expect the positive sentiments towards Tier-one banks to continue, given their strong performance in H1-2023. Similarly, investors may continue to take positions in fundamentally sound stocks. However, we note that some investors may book profits off stocks that have recorded impressive price appreciations.

As measured by market breadth, market sentiment was negative, as 36 stocks lost relative to 15 gainers. Ikeja Hotel recorded the highest price gain of 10 per cent to close at N2.75, per share. John Holt followed with a gain of 9.70 per cent to close at N1.81, while Cornerstone Insurance rose by 9.49 per cent to close at N1.50, per share.

Regency Alliance Insurance went up by 8.57 per cent to close at 38 kobo, while Tantalizers and Linkage Assurance appreciated by 6.67 per cent each to close at 32 kobo and 80 kobo, per share.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 4. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Unimpressive macro environment depresses stock marketSell pressure on Dangote Cement forced down the share price by 8.5%, offsetting the gains in BUA Foods and Airtel Africa to trigger a 0.1% WoW decline in the NGX All-Share Index to 67,324.59 points.
Källa: vanguardngrnews - 🏆 5. / 75 Läs mer »

Stock market sheds N39bn amid increased trade volumeThe local bourse closed negative on Friday by 0.11 per cent week-on-week due to weak market momentum which saw investors losing N39bn.
Källa: MobilePunch - 🏆 8. / 63 Läs mer »

Bargain Hunting Opportunities To Boost Stocks Trading This WeekAnalysts expect bargain hunting opportunities to boost Nigerian stock market trading activities this week.
Källa: LeadershipNGA - 🏆 4. / 77 Läs mer »