Tuesday, March 2African Business News
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Tag: BUA

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...