Tuesday, March 2African Business News
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Tag: BUA CEMENT

Renewed profit-taking drag index by 0.06 per cent

Renewed profit-taking drag index by 0.06 per cent

Business
Renewed profit-taking in the shares of some blue-chip companies, especially Champion Breweries and Honeywell Flour Mill dragged the All-share Index (ASI) by 0.06 per cent. At the close of transactions yesterday, the ASI fell by 14.28 absolute points, a 0.06 per cent dip to close at 25,027.61 points. Similarly, the overall market capitalisation size shed N7 billion to close at N13.056 trillion. The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; BUA Cement, UAC of Nigeria (UACN), Ecobank Transnational Incorporated (ETI), Zenith Bank and United Bank for Africa (UBA). On market performance for this week, analysts at United Capital Plc, were not surprised, saying: “We expect to see some profit-taking activities given the bullish perf...
NSE reopens bearish as investors’ lose N119 billion amid profit-taking

NSE reopens bearish as investors’ lose N119 billion amid profit-taking

Capital Market
The Nigerian Stock Exchange (NSE), resumed trading on a downward note, Monday, occasioned by profit-taking in bellwether stocks, as investors wealth dipped N119 billion. Yesterday, the All Share Index (ASI) shed 228.35 points or 0.91 per cent to 24,954.32 points. Accordingly, investors lost N119 billion in value as market capitalisation slipped to N13.018 trillion. The downturn was impacted by losses recorded in medium and large value stocks, amongst which were; MTN Nigeria Communications (MTNN), BUA Cement, Zenith Bank, Ecobank Transnational Incorporated (ETI), and Guaranty Trust Bank. Capital market analysts attributed the decline to profit-taking in stocks that have gained, maintaining a bearish outlook this week, as market fundamental remains susceptible to the negative effect...