Investors record heavy N900bn losses at Nigerian stock market

Investors successful the Nigerian Exchange Market recorded dense N900 cardinal losses connected Tuesday aft a four-day rally.

This comes arsenic marketplace capitalization dropped connected Tuesday from N156.056 trillion to N155.152 trillion, representing a nonaccomplishment of N904 billion, oregon 0.58 percent.

Similarly, the All-Share Index besides declined by 1,408.82 points, oregon 0.58 percent. It closed astatine 241,750.15 against 243,158.97 recorded connected Monday.

As a result, the market’s year-to-date instrumentality moderated to 55.35 percent. However, successful spite of the losses, marketplace sentiment remained positive, with 46 gainers and 26 losers.

The diminution ended a four-day rally connected the Nigerian Exchange Ltd. (NGX).

Heavy profit-taking successful Guinness Nigeria, Union Dicon Salt, AIICO Insurance, Wema Bank, MTN Nigeria, and others pressured marketplace performance.

At the close, marketplace capitalization dropped from N156.056 trillion to N155.152 trillion. This represented a nonaccomplishment of N904 billion, oregon 0.58 percent.

The All-Share Index besides declined by 1,408.82 points, oregon 0.58 percent. It closed astatine 241,750.15 against 243,158.97 recorded connected Monday.

Consequently, the market’s year-to-date instrumentality moderated to 55.35 percent.

In spite of the losses, marketplace sentiment remained positive, with 46 gainers and 26 losers.

Accordingly, Vitafoam Nigeria, Zichis Agro Allied Indus...