Stock market suffers N393bn loss on profit-taking
Johnson Okafor
The equities market closed on a negative note on Tuesday, declining by 1.83 per cent as profit-taking hit the market following investors’ moves to increase capital gains.
The Nigerian Stock Exchange All-Share Index dropped by 751.25 basis points or 1.83 per cent from 41,147.39bps the previous day to 40,396.14bps while the market capitalisation of equities depreciated by N393bn to close at N21.12tn from N21.52tn.
On the activity chart, the premium sub-sector dominated in volume terms with 106.03 million shares exchanged in 2,123 deals. The subsector was enhanced by the activities in the shares of Access Bank Plc and Zenith Bank Plc.
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Johnson Okafor
Transactions in the Nigerian equity market on Thursday closed on a negative note as losing streak extends to the fourth consecutive trading day, following sell-off on some high valued stocks.
The market breadth closed negative, recording six gainers and 40 losers.
The Nigerian Stock Exchange All-Share Index dipped 444 basis points or 1.27 per cent to close at 34,577.26 index points as against 35,021.26 recorded the previous trading session.
The market capitalisation of equities depreciated by N232bn from N18.30tn the previous day to N18.07tn as market sentiment remained in the negative territory.
Meanwhile, a turnover of 553.95 million shares exchanged in 6,441 deals was recorded in the day’s trading.
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