Saturday, January 28, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Profit taking in 17 stocks drag indices by N169 billion — Business — The Guardian Nigeria News – Nigeria and World News

by e-Naira Online News
May 31, 2022
in Business
Reading Time: 3 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


The Nigerian Exchange Limited (NGX) reopened in a downturn yesterday, as losses in Presco MTN Nigeria and 15 stocks dragged market capitalisation by N169 billion, following profit taking by investors.

At the close of transactions yesterday, the All Share Index (ASI) decreased by 313.16 absolute points, representing a dip of 0.58 per cent to close at 53,772.14 points. Similarly, the market capitalisation lost N169 billion to close at N28.989 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Presco, MTN Nigeria Communications (MTNN), Stanbic IBTC Holdings, Lafarge Africa and University Press.

Going into the week, analysts at United Capital Plc expect sentiments to remain soft and possibly support further profit-taking, particularly, if fixed-income yields continue to surge in light of the MPR rate hike, saying
“Nevertheless, we advise investors not to panic and rather take advantage of the dip to increase positions in attractively priced fundamental stocks.”

As measured by market breadth, market sentiment was positive as 25 stocks gained while 17 others depreciated in price.

Presco led the losers’ chart with 10 per cent, to close at N162. University Press followed with a decline of 8.77 per cent to close at N2.60 kobo while FTN Cocoa processors went down by 8.57 to close at 32 kobo.

May & Baker Nigeria lost 7.60 per cent to close at N4.01 kobo while Wema Bank shed 6.85 per cent to close at N3.40 kobo. Honeywell fell by 6.29 per cent to close at N3.28 kobo while TransNational Corporation depreciated by 6.15 per cent to close at N1.22 kobo.

MTNNigeria lost 2.95 per cent to close at N230. Fidelity Bank shed 2.94 per cent to close at N3.30 kobo. Lafarge WAPCO declined by 160 kobo to close at N27.70 kobo while Stanbic IBTC also dropped 1.45 per cent to close at N27.70 kobo.

On the other hand, Trans Nationwide Express recorded the highest price gain, adding 9.86 per cent to close at 78 kobo while NPF Microfinance Bank followed with a gain 9.76 per cent to close at N1.80 kobo.

UAC of Nigeria (UACN) appreciated by 9.52 per cent to close at N11.50 kobo. Jaiz Bank went up by 8.97 per cent to close at 85 kobo while Livestock Feeds appreciated by 6.67 per cent to close at N1.60 kobo.

Royal Exchange gained 6.12 per cent to close at N1.04 kobo. United Capital appreciated by 5.08 per cent to close at N13.45 kobo. Multiverse gained five kobo to close at 21 kobo. Niger Insurance also added five kobo to close at 21 kobo.

Thus, UBN was the most traded stock by volume and value with 27.337 billion shares valued at N191.359 billion. Transnational Corporation of Nigeria (Transcorp) followed with 70.067 million shares worth N85.102 million.

Access Holdings traded 21.249 million shares valued at N212.351 million.

Jaiz Bank traded 16.266 million shares valued at N13.625 million, while Sterling Bank transacted 10.535 million shares worth N15.872 million.





Source link

Tags: billionbusinessdragGuardianindicesN169NewsNigeriaProfitstocksWorld
Previous Post

Access Bank agrees N140m solar power deal with LBS

Next Post

Bitcoin on its way to $32,000 as on-chain data suggests net accumulation

Related Posts

Business

Access Holdings, International Breweries, others lose N51.7bn to investors’ apathy

by e-Naira Online News
January 27, 2023
Business

Lagos now closer to its smart city dream with 5G technology —Sanwo-olu

by e-Naira Online News
January 27, 2023
Business

Average retail price of kerosene up 136% in one year

by e-Naira Online News
January 27, 2023
Business

CBN, NIBSS unveil AfriGo, Nigeria’s first national payment card | The Guardian Nigeria News

by e-Naira Online News
January 27, 2023
Business

Prices of 5kg cooking gas up 27% in December

by e-Naira Online News
January 26, 2023
Next Post

Bitcoin on its way to $32,000 as on-chain data suggests net accumulation

Nigeria advertising industry inches up in global space

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

Access Holdings, International Breweries, others lose N51.7bn to investors’ apathy

January 27, 2023

FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight – Bitcoin News

January 27, 2023

Bourse sustains negative trend with market capitalisation down N52m – Businessamlive

January 27, 2023

Real Estate Financing Firm Lists N20bn Sukuk On Stock Exchange

January 27, 2023

Rivers kidnapper bags death sentence for murder

January 27, 2023

Financial steps you must take before you relocate abroad

January 27, 2023

The good, the bad, the ugly sides of Oyebanji’s 100 days in office

January 27, 2023

Lagos now closer to its smart city dream with 5G technology —Sanwo-olu

January 27, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.