Thursday, February 25African Business News
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Tag: bellwether

Stock market indices slump by N162b amid losses in bellwethers

Stock market indices slump by N162b amid losses in bellwethers

Capital Market
Transactions on the equities sector of the Nigerian Stock Exchange (NSE), closed on a downward note yesterday, occasioned by losses in some high-value stocks, causing market capitalisation to plunge by N162 billion. Specifically, at the close of trading Thursday, market capitalisation depreciated by N162billion from N11.872trillion recorded on Wednesday, to N11.710trillion. The All-share index plunged by 309.51 points from 22,780.30 to 22,470.79. The downturn was impacted by losses recorded in highly capitalised stocks, amongst which were; Nestle Nigeria, Dangote Cement, BUA Cement, UAC of Nigeria (UACN) and Ecobank Transnational Incorporated (ETI). Analysts at Afrinvest Limited said: “In line with current events shaping economic and business activities, we also foresee the first q...