Despite the positive market breadth of 20 gainers against 7 losers, the equities market of the Nigerian Stock Exchange (NSE) closed red with a marginal decline of 0.05 per cent on Wednesday.
This is amid the remote trading of brokers on the floor of the local bourse, being the measure taken by the NSE management to contain the spread of COVID-19.
The reversal of previous day gains followed profit-taking on MTN Nigeria, Total and five other stocks as gains in Banking, Consumer and Industrial goods sectors failed to sustain yesterday’s gain.
Consequently, the year to date loss of the NSE All-Share Index (ASI) increased to 19.05 per cent as predicted by analysts that the bullish activity would be short-lived amid increases in COVID-19 cases and sustained low crude oil prices.
ALSO READ: COVID-19: Arik Air suspends commercial flight operations Friday
In summary, the All-Share Index (ASI) decreased by 11.68 absolute points, representing a dip of 0.05 per cent to close at 21,729.48 points. Similarly, the overall Market Capitalisation size shed N6.09 billion, representing a dip of 0.05 per cent to close at N11.32 trillion.
The downturn was impacted by loses recorded in large and medium capitalized stocks, amongst which are; Total (-10.00%), Africam Prudential (-9.87%), FCMB (-3.85%) and MTN Nigeria (-2.91%).
Market activity was weak as volume and value of stocks traded tanked by 29.27 per cent and 37.25 per cent to 0.23 billion units and N2.24 billion respectively.
YOU SHOULD NOT MISS THESE HEADLINES
VIDEO: Bauchi Governor, Bala Mohammed, Tests Positive For Coronavirus
Bauchi governor, Bala Mohammed, has tested positive for coronavirus. This is according to a release by the Bauchi State government, signed by Senior Special Assistant (Media), Mukhtar Gididado. The statement made public on Tuesday contained that, “this is to inform the general public that the result of the six… See the video
Lagos Markets To Shut Down On Friday
Lagos markets, offices, showrooms, and warehouses operating under the umbrella of Market Leaders and Traders Association of Nigeria, Lagos Chapter, will shut down, on Friday, over the raging coronavirus epidemic. In a statement issued this morning and signed by Comrade Christopher Okpala and Comrade… Read full story
FG Alerts Nigerians On Existence Of Coronavirus Ransomware
The Federal Government has alerted Nigerians to the existence of an Android-based malicious and fraudulent Coronavirus Ransomware Application, which claims to provide updates on the virus and infections near the user. In a statement issued in Abuja on Tuesday, the Minister of Information and Culture, Alhaji… Read full story
The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has dismissed as false…
The Senate on Tuesday, asked the Federal Government to include local government councils from the…
The Kwara State Electric Power Sector Bill, 2025, sponsored by Hon. Rukayat Shittu, representing Owode/Onire…
The alleged replacement of one of the nominees on the Board of the South West…
Crypto markets are gaining pace in 2025, and everyone is eyeing the next most popular…
According to the Grammy-nominated singer, his uncle is an example of not judging people by…
This website uses cookies.