RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home News

Stock market reverses gaining streak as index drops by 0.4%

Rate Captain by Rate Captain
August 29, 2019
in News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Following price loss incurred by most blue-chip stocks, the Nigerian Stock Exchange (NSE) reversed the three days gaining streak to close on a downturn yesterday, as the All-Share Index declined by 0.4 per cent.

Specifically, at the close of transactions yesterday, the All-Share Index (ASI) shed 108.32 points or 0.39 per cent to 27,691.85 points.

AlsoRead

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

University of Glasgow Offers Leadership Scholarships for International Students.

Meta Sanctioned with €1.2 Billion Fine for Unlawful EU-US Data Transfer.

Accordingly, investors lost N52 billion in value as market capitalisation went down to N13.472 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, among which are: Seplat Forte Oil, Julius Berger, International Breweries and Cement Company of Northern Nigeria.

Analysts at Afrinvest Limited expected the bearish performance to continue, as investor sentiment remains weak.

Also, analysts at Imperial Asset Managers Limited expected bargain hunting on stocks that have witnessed significant price deceleration to be prominent this week, “but we do not rule out the possibility of profit-taking considering current investors’ weak confidence on the market.”

Market breadth closed negative, as 19 stocks posted gains while 21 stocks posted declines.

Associated Bus Company and Sovereign Trust Insurance recorded the highest price gain of 10 per cent, each to close at 33 kobo and 22 kobos, respectively, while John Holt followed with a gain 8.70 per cent to close at 50 kobo, per share.

NPF Microfinance Bank went up by 8.62 per cent to close at N1.26, while Triple Gee and Company appreciated by 7.94 per cent to close at 68 kobo, per share. On the other hand, Forte Oil and Seplat led the losers’ chart by 10 per cent, each to close at N14.40 and N441, respectively, while Julius Berger followed with a decline of 9.95 per cent to close at N18.55, per share.

Champion Breweries lost 9.47 per cent to close at N1.53, while Courteville Business Solutions shed 9.09 per cent to close at 20 kobo, per share.

The total volume traded declined by 53.4 per cent to 158.268 million shares, worth N2.3 billion, and traded in 3,595 deals. Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 31.76 million shares valued at N41.87 million.

Zenith Bank followed with 18.65 million shares worth N587.11 million, while United Bank for Africa (UBA) traded 17.85 million shares valued at N205.2 million.

FBN Holdings traded 14.07 million shares valued at N181.27 million, while Guaranty Trust Bank transacted 13.45 million shares worth N824.07 million.

Tags: The Guardian
Previous Post

Ogunrinde: Nigeria’s Education System Requires Radical Change

Next Post

GTB, UBA, others near one-year low on NSE

Related News

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

by Rate Captain
May 28, 2023
0

MTN, a leading telecommunications company in Africa and the Middle East, has launched its highly anticipated MTN Global Graduate Program...

University of Glasgow Offers Leadership Scholarships for International Students.

University of Glasgow Offers Leadership Scholarships for International Students.

by Rate Captain
May 26, 2023
0

The University of Glasgow has announced the availability of Leadership Scholarships for international and EU (non-UK) students who will be...

Meta Sanctioned with €1.2 Billion Fine for Unlawful EU-US Data Transfer.

Meta Sanctioned with €1.2 Billion Fine for Unlawful EU-US Data Transfer.

by Rate Captain
May 22, 2023
0

Meta, the owner of Facebook, has been sanctioned with a staggering fine of 1.2 billion euros ($1.3 billion) for unlawfully...

FAAC Allocates N655.9 Billion to Federal, State, and Local Governments in April 2023

FAAC Allocates N655.9 Billion to Federal, State, and Local Governments in April 2023

by Rate Captain
May 20, 2023
0

The Federation Account Allocation Committee (FAAC) has announced the sharing of N655.932 billion as the Federation Account Revenue for the...

Next Post

GTB, UBA, others near one-year low on NSE

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

May 28, 2023
MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

May 28, 2023

Popular Story

  • MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

    MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

    0 shares
    Share 0 Tweet 0
  • Canada Expedites Family Reunification Process, Contrasting UK’s Immigration Policy

    0 shares
    Share 0 Tweet 0
  • University of Glasgow Offers Leadership Scholarships for International Students.

    0 shares
    Share 0 Tweet 0
  • Access Bank Invites Applications for 2023 Entry Level Trainee Program in Technology

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>