Home Stock Market Investors lose N807bn in 2 weeks as equities market decline continues at...

Investors lose N807bn in 2 weeks as equities market decline continues at NGX

68
0

The downward trend in the equities market persisted for the second consecutive week with investors losing over N807 billion.

Trading results from NGX showed that market capitalization declined to N27.874 trillion at the end of trading last Friday from   N28.681 trillion on Friday, June 10th. 

The market capitalisation represents the total value of investors’ worth on the Exchange

In the same manner, another major equities market gauge, the All-Share Index, ASI declined to 51,705.61 points last Friday from 53,201.38 points on June 10th. .

Consequently,   analysts have advocated cautious trading by investors this week till companies release their half-year financial performance for the year 2022.

They also advised investors to patronise the fundamentally justified stocks in order to minimise risk arising from fluctuation in market price.

Meanwhile, market performance last week showed that losses recorded in the shares of heavyweight cement companies Dangote Cement and BUA Cement, on the first trading day of the week, offset the cumulative gains of 1.9 percent as of Friday, as the Nigerian Exchange Limited, NGX   suffered its second consecutive weekly loss.

As a result, the All-Share Index declined marginally by 0.1 percent Week on Week, w/w to close at 51,705.61 points. Notably, the profit-taking activities led to losses in BUA Cement which dropped by 3.2 percent, Dangote Cement by 0.7 percent, Nigerian Breweries by 5.5 percent, and WAPCO by 3.2 percent.

Vanguard

LEAVE A REPLY

Please enter your comment!
Please enter your name here