NSE: Investors count N145bn losses in 3 days

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Factual Pursuit of Truth for Progress

 

Over N145 billion has been lost by investors on the stock market in three trading days of this week.

There has been a decline in the market capitalisation which represents the value of investments on the exchange. This decline was from N20.8 billion of Friday to N20.7 trillion.
In a related development, the NSE All Share Index, ASI dropped by 277.83 points to 39.5 22.06 points from 39,799.89 points which was 0.7 per cent decline.

According to predictions from capital market operators, the stock market might not record the balloon gain this year as it was in 2019 following the increasing returns on fixed income instruments in recent time and thenormalcy in economic activities following the availability of coronavirus, COVID-19 vaccines.

In the meantime, activities in the market on Wednesday showed that in spite of the significant upward movement in SEPLAT Petroleum at 10 per cent coupled with gains in PRESCO at 195 bases points bps, Guaranty Trust Bank 63 bps and UBA 61bps, the domestic bourse maintained Tuesday’s bearish performance, shedding 44 bps to close at 39,522.06 points.

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