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Stock investors lose N1.37tn in one month 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.
The Nigerian stock market, in the week gone by was mostly in a bearish territory, but it managed to pull a total turnover of 1.930 billion shares worth N20.656 billion in 24,687 deals. Last week trading surpassed the 1.541 billion shares valued at N18.235 billion which investors traded in 22,752 deals. The sectors that recorded more trading activities were Financial Services, Conglomerate Industry and Consumer Goods. The stock market performance last week was supported by trading in the top three equities: Wema Bank Plc, Zenith Bank Plc and First Bank Holding Plc, all of which by volume-size accounted for 782.167 million shares worth N8.914 billion in 4,624 deals, contributing 40.52% and 43.15% to the total equity turnover volume and value respectively ....
Investors lose N1.4trn as rising yields in FI takes toll on equities market Investors lose N1.4trn as rising yields in FI takes toll on equities market Share The Nigerian equities market, having recorded four consecutive weekly losses, ended the month of February bearish with the All Share Index (ASI) at -6.16 per cent as investors eye the continuous uptick of yields in the fixed income market. In the month of February, investors lost N1.36 trillion as the market capitalisation of the local bourse closed the month at N20.824 trillion as against an opening of N22.187 trillion. Again, the Nigerian Treasury Bills (NTB) auction results wherein stop rates rose by an average of 254 basis points to 3.67 per cent from 2.33 per cent at the last auction, thereby weighing on investors sentiment at the Nigerian Stock Exchange (NSE). ....
’Femi Asu The market capitalisation of equities listed on the nation’s stock market declined by N130bn last week as negative sentiments persisted . ....
Goddy Egene The Nigerian stock market shed N368 billion last week following profit-taking activities by some investors after the massive gains in January. The market had appreciated by N1.1 trillion in January due to sustained high demand for stocks. However, the bears set in the first week of February as some investors moved in to lock in part of the gains. Bearish sentiments dominated the local bourse in all the five trading sessions. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 1.66 per cent to close lower at 41.709.09, while market capitalisation shed N368 billion to be at N21.819 trillion. ....