Lagos, May 24, 2021 Activities on the nation’s bourse resumed on Monday still on a bearish trend, as investors await the outcome of the Monetary Policy Committee (MPC) meeting. Specifically, the All-Share Index lost 36.49 points or 0.10 per cent to close at 38,287.58 from 38,324.07 posted on Friday. Accordingly,
Accordingly, month-to-date and year-to-date losses increased to 3.9 per cent and 4.9 per cent, respectively. Also, the market capitalisation which opened at N19.975 trillion dipped N19 billion or 0.10 per cent to close at N19.956 trillion. Thus, the All-Share Index declined by 0.1 per cent to 38,287.58 points. The decline was driven by price depreciation in large and medium capitalised stocks amongst which were Enamelware, Eterna, Guaranty Trust Bank, Access Bank and United Bank for Africa. Analysts at Afrinvest Ltd. said the stock market would witness cautious trading pending the outcome of the MPC meeting slated for May 24 and 25. We expect to see cautious trading tomorrow (May 25), as investors await the Central Bank of Nigeria s policy reaction to the recently released GDP and inflation numbers by the end of the MPC meeting, said the analysts.
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NGX resumes May with N17bn loss
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Activities on the nation’s bourse resumed the week and month on Tuesday with a loss of N17 billion following sell pressure on Lafarge Africa and MTN Nigeria Communications (MTNN).
Specifically, the market capitalisation shed N17 billion or 0.08 per cent to close at N20.830 trillion from N20. 847 trillion recorded on Friday.
Also, the All-Share Index declined by 32.64 points or 0.08 per cent to 39,801.78 compared with 39,834.42 posted on Friday.
Consequently, the month-to-date and year-to-date losses stood at 0.1 per cent and 1.2 per cent, respectively.
The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Lafarge Africa, MTNN, Zenith Bank, Sterling Bank and United Bank for Africa.
By Chinyere Joel-Nwokeoma
Lagos, April 28, 2021 Mixed sentiments persisted on the nation’s bourse on Wednesday with the market capitalisation dropping N274 billion in six hours of trading due to sell-off of blue chips.
Specifically, the market capitalisation dipped N274 billion or 1.33 per cent to close at N20.296 trillion from N20.570 trillion achieved on Tuesday.
Also, the All-Share Index which opened at 39,305.48 points lost 524 points or 1.33 per cent to close at 38,781.48.
The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which were; Guinness Nigeria, International Breweries, Ardova Plc, PZ Cussons and UACN.
The market sentiment remained negative with 23 laggards against 20 gainers.
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