Investors lose N87bn as NSE resumes from Easter holidays

Investors lose N87bn as NSE resumes from Easter holidays

Investors lose N87bn as NSE resumes from Easter holidays   By Olamide Onabanjo with Agency Report   The Nigerian stock market resumed after the Easter public holidays on Tuesday with a loss of 0.39 per cent due to persistent bearish trend, the News Agency of Nigeria reports. Specifically, the All-Share Index lost 150.13 points or 0.39 per cent to close 38,766.61 compared with 38,916.74 achieved on Thursday. Also, the market capitalisation lost N78bn to close at N20.28tn from N20.361tn achieved before the break on Thursday. The market loss was driven…

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Bears stage comeback as stocks shed N157bn in four days

Bears stage comeback as stocks shed N157bn in four days

Bears stage comeback as stocks shed N157bn in four days     The Customs Street remained moody and gloomy for stock investors who staked a sum of N19.039 billion on 1.445 billion shares of quoted companies at the Nigerian Stock Exchange (NSE) last week, during which the market opened for four days. The local bourse could not consolidate the gains recorded in the prior week as profit-taking dominated activities on three of the week’s four trading days ahead of the Easter holidays. Note that the market opened for four trading…

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Bulls stage comeback with N199bn gain on Dangcem, MTN, Stanbic, other stocks

investors gain

Bulls stage comeback with N199bn gain on Dangcem, MTN, Stanbic, other stocks   At the close of trading at the domestic equities market on Wednesday, the run-up in the prices of top counters resulted from the spate of upbeat earnings releases brought about an upturn courtesy of strong buying interest in Dangote Cement (+2.3%), MTN Nigeria (+2.4%), and Stanbic IBTC (+10.0%) weighed positively on Wednesday’s performance. Thus, the All-Share Index rose 0.98 per cent to 39,085.78 points, giving market investors gains in the tune of N199.2 billion while the market year to date loss…

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Stock investors lose N7bn as market return southwards

Nigerian stock index sheds 0.35%

Stock investors lose N7bn as market returns southwards   Sentiments again went negative as trading on the floor of the Nigerian Stock Exchange (NSE) closed southwards on Tuesday with N9 billion loss. Following the day’s loss, the All-Share Index (ASI) tracking share price movement at the bourse shed 17.9 points, equivalent to 0.04 per cent depreciation to close at 38,704.97 index points. Similarly, the equities market capitalization ended in the red by losing the same percentage points to close at N20.251 trillion from N20.260 trillion. The ASI was dragged by…

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Equities closed 7th negative week with N140bn loss

Investors lose N33bn as bears reclaim NGX floor

Equities closed 7th negative week with N140bn loss     The Nigerian stock market extended its decline last week for the seven consecutive week as investors lost N140 billion. The negative record was despite three bullish session out of the five in the week and impressive rise in the banking index. The decline was however caused by continuous profit-taking and rising yield in the fixed income market. The Nigerian Stock Exchange All-Share Index (NSEASI) and market capitalisation depreciated by 0.69 per cent to close the week at 38,382.39 and N20.082…

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Equities rebound as Dangcem, MTN, 9 others net N83bn gain

investors gain

Equities rebound as Dangcem, MTN, 9 others net N83bn gain   The domestic equities rebounded on Tuesday from the bearish close the previous session, following investors’ buying interest in bellwethers – DANGCEM (+3.6%) and MTNN (+1.2%). Accordingly, the benchmark index advanced by 0.41% or 158.97 points to 38,720.81 points. Similarly, market cap of stocks appreciated by N83 billion to close at N20.259 trillion from N20.176 trillion it opened the session. Consequently, the Month-to-Date (MtD) and Year-to-Date (YtD) losses moderated to -2.7% and -3.9%, respectively. The total volume traded increased by…

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Stocks’ six weeks of decline bleed over a new start

Investors lose N33bn as bears reclaim NGX floor

Stocks’ six weeks of decline bleed over a new start     The Nigerian equities market has been in the red territory for in the last six consecutive weeks principally because of rising appetite in the fixed income market where yields are continuously getting better as well as profit-taking pressure. Upon returning to the trading floor of the Nigerian Stock Exchange (NSE) on Monday to begin a new week, the bears maintained firm grip on the market despite the influx of better than expected 2020 financial reports filed by issuers.…

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NSE completes demutualisation but the work has just begun

NSE completes demutualisation but the work has just begun

NSE completes demutualisation but the work has just begun     The Nigerian Stock Exchange (NSE) has received final approvals of its demutualisation plan from the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) respectively. With these approvals, The Exchange has now completed its demutualisation process, management of the bourse revealed in statement on Wednesday. Under the demutualisation plan, a new non-operating holding company, the Nigerian Exchange Group Plc (NGX Group) has been created. The Group will have three operating subsidiaries, namely: Nigerian Exchange Limited (NGX Limited), the…

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Stock investors see respite with N34bn gain

Nigerian stocks maintain uptrend with N109bn gain

Stock investors see respite with N34bn gain    Investors trading on the floor of the Nigerian Stock Exchange (NSE) started the week on a positive note, with the market snapping four-day consecutive days of decline. This came as the equities index advanced by 0.17 per cent to 39,396.57 basis points, with aggregate equities market cap gaining N34 billion to close higher at N20.613 trillion. The performance was buoyed by investors’ interests in WAPCO (+7.7 per cent) and some tier 1 banking stocks, including FBNH (+2.8 per cent) and ACCESS (+2.6…

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Local bourse on Zig-zag posture as investors lose N120bn

Investors lose N33bn as bears reclaim NGX floor

Local bourse on Zig-zag posture as investors lose N120bn   The Nigerian stock market, which began the month on a positive note, resumed decline on Tuesday following sell-offs and profit-taking charges in 26 stock, resulting in share price losses at the end of trading. The Nigerian Stock Exchange All-Share Index (NSEASI) had opened the month of March positive with 0.33 per cent uptick on Monday, a deviation from a total loss of N1.37 trillion recorded in February. But the benchmark index, ASI, fell by 0.59 per cent on Tuesday to…

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