Investors still down by N558 billion despite N100 billion gains in the Nigerian stock market

• What started arsenic a losing week for Nigerian investors with implicit N650 cardinal nonaccomplishment connected Monday appears to beryllium turning astir now
• The Tuesday trading league ended otherwise for the investors, with immoderate profits successful hand
• However, it is inactive a antagonistic week overall, arsenic the losses inactive outweigh the gains by far

Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

Yesterday was a affirmative time for Nigerian investors arsenic the Nigerian Exchange Limited (NGX) ended the trading time with N100.45 cardinal gains.

The week started with some planetary and Nigerian stocks reacting to President Donald Trump’s import tariff increase.

Investors successful the NGX mislaid astir N658.23 cardinal to adjacent the Monday trading time with a marketplace capitalisation of N65.49 trillion.

The N100 cardinal gains mean that investors person inactive mislaid implicit N550 cardinal this trading week. Photo credit: Pius Utomi Ekpei/NGX
Source: UGC

But by the adjacent of trading connected Tuesday, banal recovered and the marketplace headdress closed astatine N65.59 trillion, and All Share Index roseate by 0.15%.

Mixed Stock performance

The PUNCH reports that Tuesday trading league has a mixed sectoral show with 16 stocks gaining, and 43 losing.

At the apical of the database are Secure Electronic Technology with 8.89% gain, Abbey Mortgage Bank with 8.35%, and Sterling Financial Holding Company with 6.85%.

In the database of losing stocks, UH Real Estate Investment Trust mislaid 9.95% to adjacent astatine N46.15; NAHCO, mislaid 9.94% to adjacent astatine N62.95; and NEM Insurance mislaid 9.92% to adjacent astatine N11.80 per share.

The astir traded stocks were banking stocks with Access Corporation, Guaranty Trust Holding Company, Fidelity Bank and FCMB Group dominating apical trades.

Across sectors, the banking assemblage leads with 1.89% gain, portion Oil and state assemblage appreciated by 0.04%.

The Commodity assemblage stayed level portion insurance, user goods, and concern goods sectors declined by 4.07%, 0.16%, and 0.11%.

NGX issues informing astir fake concern experts

Recall that the NGX precocious sent retired a connection to Nigerians astir fraudulent individuals posing arsenic investment experts.

The speech warned that these alleged strategists are not connected to the exchange, and their activities are mendacious and fraudulent.

The nationalist has been urged to behaviour owed diligence earlier engaging anyone oregon entity posing arsenic registered fiscal advisors.

The marketplace reacted to the caller announcement from President Donald Trump to summation import tariffs, causing large losses. Photo credit: Contributor/ Nurphoto
Source: Getty Images

Recall that the NGX radical precocious declared a record-breaking nett of N13.6 billion earlier taxation for the 2024 fiscal year.

The committee of directors frankincense authorized a last dividend of N4.4 billion, oregon N2 per share, successful appreciation of this outstanding achievement. This is the largest dividend payout successful the Group's history.

N18 cardinal investments wiped retired from the NGX

In related news, the NGX precocious delisted 3 companies - Capital Oil Plc, a notable lipid company, Medview Airline Plc and Goldlink Insurance.

The NGX connection listed respective regulatory infractions from the affected companies, contempt repeated warnings implicit the years.

The NGX has besides advised the affected investors who clasp shares worthy astir N18 cardinal in these companies connected what to bash next.

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Source: Legit.ng