By Chinyere Joel-Nwokeoma
Lagos, Feb. 18, 2021 Bearish sentiments persisted on the Nigerian Stock Exchange (NSE) on Thursday following sell pressure on MTNN, Guaranty Trust Bank and Zenith Bank shares.
Consequently, All-Share Index dropped by 253.13 or 0.63 per cent to 40,212.19 from 40,465.32 achieved on Wednesday.
Accordingly, the month-to-date and year-to-date losses increased to 5.2 per cent and 0.2 per cent, respectively.
Also, the market capitalisation which opened at N21.169 trillion lost N133 billion to close at N21.036 trillion.
The downturn was buoyed by value depreciation in large and medium capitalised stocks amongst which are: University Press, Chams, UPDC Real Estate Investment Trust, Multiverse Mining and Exploration and Japaul Gold.
NSE s indices down 0 63% amid profit taking [ARTICLE] pulse.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pulse.ng Daily Mail and Mail on Sunday newspapers.
After days of a persistent bearish trend, transactions on the nation’s bourse rebounded on Thursday by 0.78 per cent following buying interest in Dangote Cement
Vanguard News
Nigeria stock market gains N334bn on Dangote Cement share buyback
On
Stock Market
The Nigerian Stock Exchange (NSE) gained N334 billion on Monday due to buying interest in Dangote Cement and 22 other stocks.
Specifically, the market capitalisation rose by N334 billion or 1.74 per cent to close at N19.570 trillion compared with N19.236 trillion achieved on Friday.
Accordingly, month-to-date and year-to-date gain increased to 6.9 per cent and 9.5 per cent, respectively.
The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, attributed the bullish run to buying interest in Dangote Cement, due to planned repurchase of 10 per cent announced by the company scheduled for Dec. 30 and 31.