Nigerian stock index sheds 0.35%

Nigerian stock index sheds 0.35%

Nigerian stock index sheds 0.35%   Negative sentiments persisted in the local bourse, as profit-taking in GUINNESS (-9.9%) dragged the All-Share Index (ASI) lower by 0.3% to 38,601.83 points. Accordingly, Month-to-Date and Year-to-Date losses increased to -1.1% and -4.1%, respectively. The total volume of trades increased by 7.6% to 208.81 million units, valued at NGN2.91 million, and exchanged in 4,013 deals. FIDELITYBK was the most traded stock by volume at 38.56 million units, while GUARANTY was the most traded stock by value at NGN951.30 million. Analysing by sectors, the Consumer…

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Investors lose N240bn as stock index further contracts by 1.18%

Nigerian stock index sheds 0.35%

Investors lose N240bn as stock index further contracts by 1.18%   As bears maintained their dominance unchallenged on the floor of the Nigerian Stock Exchange (NSE), investors in the local market lost N240 billion in the first trading week of March as the market capitalisation declined further. Consequently, benchmark share price tracker, the All-Share Index (ASI) and the market capitalisation dropped by 1.18 per cent to close last week at 39,331.61 and N20.579 trillion respectively. All other indices finished lower with the exception of NSE Industrial Goods and NSE Sovereign…

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Bears drag stock index below psychological 40,000 points

Bears stage comeback as stocks shed N157bn in four days

Bears drag stock index below psychological 40,000 points     The local bourse was not immune to the rout in global equities as bears maintained firm grip on the market, defying prediction of a rally on the back of reported earnings. The market recorded its fourth consecutive weekly loss, amid growing concerns about the rising yields in the fixed income market. Again, the Nigerian Treasury Bills auction results wherein stop rates rose by an average of 254 basis points to 3.67 per cent (from 2.33 per cent at the last…

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Stock market index sustains uptrend by 1.20%

Profit Taking

Stock market index sustains uptrend by 1.20%   Bulls extended their dominance in the Nigerian equity market to seventh successive sessions on Tuesday, as the All-Share Index (ASI) appreciated by 1.20 per cent. At the close of transactions, the ASI gained 450.21 absolute points, representing a gain of 1.20 per cent to close at 37,893.61 points. Similarly, the overall market capitalisation appreciated by N235 billion to close at N19.805 trillion. The uptrend was driven by price appreciation in medium and large capitalised stocks, including Dangote Cement, Eterna, Cadbury Nigeria, Zenith…

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