News Formal

Unimpressive macro environment depresses stock market

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 75%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Sell 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.

The Nigerian Exchange Limited, NGX, has recorded a second consecutive sluggish week, as sell pressures from highly capitalized stocks persists Week-on-Week, WoW at the backdrop of the unimpressive macro environment which remains a significant headwind for corporate earnings, according to analysts.

As a result, the Month-to-Date, MtD, and Year-to-Date, YtD, gains moderated to +1.2% and +31.4%, respectively.Further analysis showed that the decline was mainly driven by increased selling activity in Oando, which had been on a nine-session winning streak, as well as banking giants like Guaranty Trust , GTCO and Sterling Holding along with the industrial goods company Dangote Cement .

The total trading volume saw an impressive 151.53% expansion to 1.03 billion units while the total value traded down 16.79% to N4.35 billion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: MobilePunch - 🏆 8. / 63 Read more »