Heavy losses suffered by many blue-chip companies, especially Airtel Africa and Seplat dragged market capitalisation of the Nigerian Exchange Limited (NGX) by N662 billion yesterday. Specifically, market capitalisation of listed equities declined by 2.08 per cent to N29.281 trillion from N29.903 trillion reported on Friday. Also, the All Share Index also dropped by 1141.76 basis points to 53750.77 points from 54892.53 traded the previous day.
Heavy losses suffered by many blue-chip companies, especially Airtel Africa and Seplat dragged market capitalisation of the Nigerian Exchange Limited by N662 billion yesterday.Heavy losses suffered by many blue-chip companies, especially Airtel Africa and Seplat dragged market capitalisation of the Nigerian Exchange Limited by N662 billion yesterday.
Analysts at United Capital Plc said, “We expect risk-on sentiments to be sustained in the equities markets even as the depressed interest rate environment will continue to favour the local bourse in line with our expectations for Q1, 2023. FTN Cocoa lost 3.70 kobo to close at 26 kobo. Regency Insurance dropped 3.33 per cent to close at 29 kobo. Jaiz Bank declined by 3.30 kobo to close at 88 kobo. PZ Cussons depreciated by 3.26 per cent to close at N10.40 kobo. Mutual Benefit Assurance lost 3.03 to close at 32 kobo.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock investors record N13bn loss in seven days over interest rates hikeAt the end of last week's trading activities in the Nigeria Stock Market, the market capitalisation declined by N13 billion following the Central Bank's
Read more »
Investors showing more interest in women-led startups – OperatorThe founder of Pivo, Nkiru Amadi-Emina, in this interview with TEMITAYO JAIYEOLA, speaks on the startup investment ecosystem and its challenges
Read more »
Stock investors record N13bn loss in one weekThe Nigerian Exchange Limited closed lower last week as investors took stock of the hike in the Monetary Policy Rate by the Monetary Policy Committee of the Central Bank of Nigeria and continued with their profit-taking.
Read more »
Seven die, 50 missing in Ecuador landslideRescuers searched Monday for nearly 50 people reported missing after a landslide triggered by months of heavy rain killed at least seven people in southern Ecuador.
Read more »
At least 16 dead in Ecuador landslide | The Guardian Nigeria News - Nigeria and World NewsAt least 16 people have died in a landslide in the south of Ecuador caused by months of heavy rainfall, the government said on Monday.
Read more »
Stakeholders seek increased youth investment in stocksThe Securities and Exchange Commission has expressed concerns on the average age of investors in the capital market and the consequences for the market, Oluwakemi Abimbola reports.
Read more »