Equities market halts two-day loss with +0.06 per cent

Negative sentiments subside as the Nigerian equities market halts a two day losing streak to gain marginally on Wednesday.

The All Share Index (ASI) of the Nigerian Stock Exchange (NSE) closed the trading session at 24,130.26, representing a 0.06 per cent gain from the previous trading session. Thus the Year-to-Date (YtD) Return stood at -10.10 per cent, while market capitalisation was pegged at N12.588 trillion.

However, All Sectoral Indices recorded mixed performance as market breadth continued to close in favour of the bears; with 12 stocks closing in the green against 14 losers.

On the performance chart, Sunu Assurance, CUTIX, Dangote Sugar, Mutual Benefit and Airtel Africa led the gainers chart, while at the rear of the chart, Julius Berger, Nigerian Breweries, Linkage Assurance, Wapic Insurance and Caverton led the chart.

A total of 208 million shares were traded, which is relatively similar to the volume traded the previous trading session, as value of those traded shares stood at N1.762 billion, a 66.37 per cent gain from a previous value of N1.058 billion.

On the activity chart, Sterling Bank, United Bank for Africa, Zenith Bank, FBN Holdings and FCMB ended the trading day as top performers in terms of volume while MTN Nigeria, Zenith Bank, Nestle Nigeria, Airtel Africa and Guaranty Trust Bank made up the top five performers in terms of the value of units traded.

Analysts at APT Securities maintained opinion on a bearish outlook. “We therefore advise for a mid to long term positioning as market technicals suggest there is further room for stocks to decline in the short-term.”


Reps to investigate mass resignation of 365 soldiers

THE House of Representatives has resolved to investigate the purported voluntary resignation of 365 soldiers from the Nigerian Army. According to the News Agency of Nigeria (NAN), this resolution followed a unanimous adoption of a motion of Matters of Urgent Public Importance by the Chief Whip of the House… Read Full Story

COVID-19: Nigeria Confirms 463 New Cases, Total Now 33,616

The Nigeria Centre for Disease Control (NCDC), on Tuesday, announced that the country has recorded 463 new cases of Coronavirus (COVID-19), bringing the total number of infections in Nigeria to… Read Full Story

Magu: Panel Grills Four EFCC Sectional Heads

The Justice Ayo Salami-led presidential investigation panel probing corrupt allegations levelled against the suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on Tuesday grilled four-unit heads of the commission… Read Full Story

Senate recognises male as rape victim, proposes life sentence for kidnappers

THE Senate on Tuesday amended the Criminal Code Act which recommended a life sentence for kidnapping as against the existing 10 years sentence stipulated in the act, in the event of the conviction of a suspect. The bill tagged, A Bill for an Act to Amend the Criminal Code Act Cap C. 38, also removed gender restrictions… Read Full Story

774,000 jobs: I have Buhari’s approval to go ahead — Keyamo

AGAINST the directive of the National Assembly, Minister of Labour and Employment, Festus Keyamo, on Tuesday, said  President Muhammadu Buhari has given the approval to continue with the implementation of the Federal Government  Special Public Works Programme… Read Full Story

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More