Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Presidential Result: NSE capitalisation loses N85bn in six hours
#1
[color=var(--atc)]Presidential Result: NSE capitalisation loses N85bn in six hours[/color]
Published

February 26, 2019

[/url]
[url=https://punchng.com/presidential-result-nse-capitalisation-loses-n85bn-in-six-hours/]

The market capitalisation of listed equities on Tuesday shed N85bn in six hours of trading to what traders attributed to profit-taking as a result of the presidential poll.
Specifically, the market capitalisation, which opened at N12.194trn, shed N85bn or 0.69 per cent to close at N12.109trn.
Also, the All-Share Index lost 226.30 points or 0.69 per cent to close at 32,473.82, compared with 32,700.12 recorded on Monday.

The Chief Operating Officer, InvestData Ltd., Mr. Ambrose Omordion, attributed the market pullback to profit-taking embarked upon by some “smart investors.”
Omordion said that the smart money that pushed the market up with expectations that the opposition would win the presidential election were leaving the market.
He said that some investors who entered the market in anticipation that the opposition’s economic policy and reforms would support market growth were taking profit ahead of earning season.

“This pullback may not last as a result of 2019 dividend declaration season, as dividend yield of financial service stocks are high and attractive due to low prices,” Omordion stated.
Nestle dominated the losers’ chart, dropping by N70 to close at N1,510 per share.
Union Bank of Nigeria trailed with a loss of 60k to close at N6.65, while FBN Holdings was down by 30k to close at N8 per share.

Conversely, Guinness led the gainers’ table during the day, gaining N2.05 to close at N67.15 per share.
Dangote Flour followed with a gain of N1 to close at N12.05, while Oando gained 65k to close at N7.25 per share.
Air Services added 60k to close at N7.05, while Africa Prudential increased by 44k to close at N4.84 per share.

A breakdown of the activity chart indicates that the volume of shares traded rose by 46.57 per cent with an exchange of 322.18 million shares worth N2.43 billion in 4,066 deals.




This was against 219.81 million shares valued at N5.55 billion transacted in 2,999 deals on Monday.
Sunu Assurances recorded the highest volume of activity, trading 50.81 million shares worth N10.16m.



Access Bank traded 32.30 million shares valued at N203.09m, while Diamond Bank sold 28.60 million shares worth N70.10 million.
United Bank for Africa accounted for 19.02 million shares valued at N153.66m, while Guaranty Trust Bank sold 17.77 million shares worth N677.66m.
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  NSE market capitalisation rises by N142bn on post-election ruling Edoman 0 17 09-13-2019, 12:52 PM
Last Post: Edoman
  Airtel Africa loses N148.4b in first week Edoman 0 103 07-15-2019, 04:45 PM
Last Post: Edoman
  91,000 Apply For Customs Jobs Within 24 Hours Edoman 0 136 04-18-2019, 09:29 AM
Last Post: Edoman
  Mainstream Energy loses N1.8 billion annually to stranded Power Edoman 0 166 04-09-2019, 10:00 PM
Last Post: Edoman
  Election outcome: NSE market capitalisation decreases further by N196bn Edoman 0 172 03-01-2019, 11:10 AM
Last Post: Edoman
  Airports operated 24 hours on Feb.15 to distribute INEC materials Edoman 0 179 02-18-2019, 02:54 PM
Last Post: Edoman
  Nigeria Loses $9bn Annually To Poor Agric Investment –minister Edoman 0 188 02-05-2019, 07:23 AM
Last Post: Edoman
  Internet Users in Nigeria Hit 111.6m as 9mobile Loses 1.38m Subscribers Edoman 0 229 01-23-2019, 03:35 PM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise