Thursday, February 25African Business News
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Tag: Equities

Equities record largest fall in three weeks, as investors lose N70b

Equities record largest fall in three weeks, as investors lose N70b

Capital Market
Weak sentiments and selloffs across bellwether stocks, especially MTN Nigeria, Guaranty Trust Bank, and Seplat led to the market’s largest fall in three weeks, as investors fortunes slumped further by N70 billion. At the close of trading yesterday, the All-Share Index (ASI) decreased by 133.45 absolute points or 0.54 per cent to close at 24,650.16 points. Similarly, investors lost N70 billion as market capitalisation fell to N12.859 trillion. The downturn was impacted by losses recorded in large and medium value stocks, including Seplat Petroleum Development Company, Total Nigeria, MTN Nigeria Communications (MTNN), Julius Berger, and Guaranty Trust Bank. Analysts at Afrinvest Limited predicted that the performance of the market this week would be majorly dictated ...