Monday, May 17African Business News
Shadow

Tag: GTB

Unity Bank, GTB, others lift NSE’s index by N186b

Unity Bank, GTB, others lift NSE’s index by N186b

Capital Market
Following price gains by most blue-chip stocks, especially Unity Bank, and Guaranty Trust Bank (GTB), transactions on the equities sector of the Nigerian Stock Exchange (NSE), reopened upbeat yesterday, as market capitalisation appreciated by N186 billion. At the close of trading, Monday, the All-Share Index (ASI) increased by 355.88 absolute points or 1.46 per cent to close at 24,783.61 points. Also, investors gained N186 billion as market capitalisation advanced to N12.929 trillion. The upturn was impacted by gains recorded in large and medium capital stocks, including Guaranty Trust Bank, Dangote Cement, Lafarge Africa, Zenith Bank and United Bank for Africa (UBA). Analysts at Imperial Asset Managers Limited, said: “We expect the current volatility (up and down movement) to con...
Bearish sentiments drag stock market indices by N56b

Bearish sentiments drag stock market indices by N56b

Capital Market
Following sell-offs in most high-capitalised stocks, transactions on the Nigerian Stock Exchange (NSE), reopened bearish yesterday, as investors’ wealth plunged by N56 billion. Specifically, at the close of trading Monday, the All-Share Index (ASI) decreased by 105.76 absolute points, or 0.44 per cent fall to close at 24,200.60 points. Similarly, the overall market capitalisation shed N56 billion to close at N12.624 trillion. The downturn was impacted by losses recorded in medium and large value stocks, including Mobil Nigeria, MTN Nigeria Communications (MTNN), Zenith Bank, Guaranty Trust Bank and Eterna Oil. Analysts at United Capital Plc urged investors to remain cautious in the equity market, as the second quarter (Q2), 2020 earnings season appears on the horizon. Also, ana...