BREAKING NEWS

Metro

World

Spiritual

14 May 2018

Stock Market Bleeds As Investors Lose N124bn

Activity on the Nigerian Stock Exchange, NSE, continued a downward trend today with investors losing N124 billion despite the expectations of rebound by some market analysts.
Investment analysts had posited that in spite of the sell-off last week, there remained a positive outlook for equities following a strengthening micro-economic fundamentals. However, the market trended further down, recording 32 losers to 11 gainers on renewed profit taking activity.

 Consequently, the benchmark All Share Index, ASI, closed lower at 40,677.61 points from 41,022.31 points, representing 0.84 percent decrease. Similarly, the equities capitalisation dropped by 0.84 percent to N14.735 trillion from N14.860 trillion on Friday. C & I Leasing Plc led the losers chart, depreciating by 9.36 percent to close at N1.55 from N1.71, followed by First Aluminium Nigeria Plc with 8.89 percent decline to close at N0.41 from N0.45.

Japaul Oil and Maritime Services Plc went down by 7.50 percent to close at N0.37 from N0.45; Okomu Oil Plc was down by five percent to close at N85.50 from N90.00, while Oando Plc depreciated by 4.91 percent to close at N7.75 from N8.15 per share. Conversely, Caverton Offshore Support Group Plc led the gainers, appreciating by 4.98 percent to close at N2.74 from N2.61.

This was followed by Sterling Bank Plc with 3.82 percent to close at N1.63 from N1.57. Mutual Benefit Assurance Plc ranked third, rising by 3.57 percent to close at N0.29 from N0.28; FCMB Group Plc rose by 3.54 percent to close at N2.63 from N2.54, while Cutix Plc was up 3.28 percent to N3.15 from N3.05 per share.

THINK YOUR FRIEND WOULD BE INTRESTED? SHARE THIS STORY USING ANY OF THE SHARE BUTTON BELOW ⬇

PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Loading...

SHARE YOUR STORY WITH US VIA EMAIL: INFO@247NIGERIANEWSUPDATE.CO

RECEIVE NEWS VIA OUR WHATSAPP, KINDLY TEXT +234 701 056 0394 TO ADD YOU

CLICK HERE TO JOIN US ON OUR YOUTUBE CHANNEL FOR NEWS UPDATE

CLICK HERE TO JOIN US ON TWITTER FOR INSTANT NEWS UPDATE: @247NGNEWSUPDATE

CLICK HERE TO JOIN MILLIONS AROUND THE GLOBE TO READ NEWS ON OUR FACEBOOK FAN PAGE

FOR INSTANT UPDATES ON INSTAGRAM CLICK HERE

RECEIVE INSTANT NEWS UPDATE VIA OUR BBM BROADCAST: D3EDEFDF

Post a Comment

 
Copyright © 2015 247 Nigeria News Update
Website by Tech Guardian