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Published 10 March 2021
Investors on the Nigerian Stock Exchange on Tuesday lost N317bn in a trading session amid sell pressure on bellwethers, the News Agency of Nigeria reported.
Specifically, the market capitalisation which opened at N20.612tn shed N371bn or 1.80 per cent to close at N20.241tn.
Also, the All-Share Index dipped 709.72 points or 1.80 per cent to close at 38,686.85 from 39,396.57 achieved on Monday.
Accordingly, the month-to-date and year-to-date losses increased to 2.8 per cent and 3.9 per cent respectively.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are Lafarge Africa, United Bank for Africa, Greif Nigeria, Northern Nigeria Flour Mills and Zenith Bank.
UBA s full-year profit rises to N132bn – Punch Newspapers punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
It declared a N3.50 per share interim dividend in June, which brings its total dividend for 2020 to N9.40 per share or N191.332 billion altogether. MTNN paid shareholders N7.92 per share for 2019.
The company stated this in its audited result released on the floor of the Nigerian Stock Exchange on Monday. The profit after tax represented an increase of 33.2 per cent when compared with N22.36 billion recorded in the corresponding period of 2019, reflecting management s unrelenting goal to deliver consistent shareholder value. The company s group revenue increased by 33 per cent to N214.30 billion in contrast to N161.09 billion in 2019. Gross profit increased by 40.4 per cent to N53.75 billion, against N38.29 billion posted in 2019. In spite of the disruptions in the economy due to coronavirus pandemic, Dangote Sugar Refinery recorded an increase in production, which rose by 13.7 per cent to 743,858 tonnes compared with 654,071 tonnes posted in 2019.