Equity market loses N184bn as investors' sentiments wane
Investors lost about N184bn at the close of Tuesday’s trading on the Nigerian exchange, reversing the N101bn gained in the previous day.
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Investors lost about N184bn at the close of Tuesday’s trading on the Nigerian exchange, reversing the N101bn gained in the previous day.
Total share value on the Nigerian Exchange (NGX) Ltd. on Tuesday dropped by N83 billion or 16.2 per cent due to selloffs in the stocks of Tier-One banks Specifically, a total of 263.19 billion shares valued at N4.30 billion were exchanged in 8,614 deals, against 242.43 billlion shares worth N5.13 billion exchanged in 8,715 deals
The domestic bourse All-Share Index and market capitalisation rose by 1.63 per cent to close at 102,802.25 points and N56.26tn, respectively.
The Nigerian Stock Exchange Group (NGX) is positive that regulatory changes will incentivise homegrown startups to list on its tech board.
The rally on the Nigerian Exchange Limited entered its seventh day on Monday, resulting in a daily gain of N365bn and a compound gain of N3.5tn from the rally which started on December 28, 2023.