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Market reverses gains as index plunges by 0.05 per cent

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“We expect mixed performance to continue, as market players interpret the outcome of Monetary Policy Committee and expected impact of the stimulus package on the economy in the midst of investors expecting their dividend payment from the companies that ...

Transactions on the equities sector of the Nigerian Stock Exchange , reversed past positive sentiments to close on a downturn yesterday, causing the All-Share Index to slump by 0.05 per cent

The Chief Operating Officer of InvestData Consulting Limited, Ambrose Omordion pointed out that the medium and high cap stocks have hit new lows on the Exchange. FSDH Group Research said: “The markets may remain volatile in the near term. We advise investors to accumulate quality stocks at lower levels with a long-term investment horizon.”

PZ Cussons Nigeria went up by 8.64 per cent to close at N4.40, while Wema Bank appreciated by 8.33 per cent to close at 52 kobo, per share. On the other hand, Total Nigeria led the losers’ chart by 10 per cent, to close at N96.30, per share.

 

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