ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, March 3, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Market operators optimistic about new listings rules

Nigerian Stock Exchange

Panic offloading of equities triggers massive slide stock market capitalisation

byPremium Times
November 6, 2014
2 min read
ADVERTISEMENT

Trading activities on the Nigerian Stock Exchange, NSE, for the third consecutive day maintained a downward trend on Thursday as market capitalisation lost over N261 billion amidst panic offloading of equities by equities shareholders.

The market capitalization, which opened at N12.170 trillion on Wednesday, lost N261 billion, or 2.14 per cent at the close oftrading on Thursday to close at N11.909 trillion.

Also, the All-Share Index, ASI, lost 786.08 basis points, representing 2.14 per cent, to close lower at 35,958.38, compared with 36,744.46 posted on Tuesday following huge losses.

Analysts attributed the persistent bearish trend at the exchange to the exit of foreign investors due to the drop in oil price at the international market.

Crude oil prices, which stood at an average above $110 per barrel at the beginning of the year, has been on the slide in recent times, hovering at an average of $86.17 per barrel as at Wednesday. The benchmark for crude oil for the 2014 budget was fixed at $79 per barrel.

The market operators says the current downward trend in market was attributable to the political uncertainties in the country as a result of the 2015 general elections, which has shifted government attention aware from the economy.

Analysis of the price movement chart indicated that 50 equities recorded price depreciation on Thursday, with Nestle recording the highest price loss by N49 to close at N931 per share.

The company was followed by 7UP, which lost about N14 to close at N141, while Lafarge Wapco dropped N9.67 to close at N89.61 per share.

Nigerian Breweries lost N4.94 to close at N151, while Total Oil depreciated by N2.71 to close at N155 per share.

RelatedNews

Nigerian Stocks retreat on profit-taking in Nestle, Zenith, WAPCO

Dangote Sugar full-year revenue jumps by N53bn as Lagos contributes half of total sales

MTNN to pay shareholders N120bn final dividend after record turnover

MTN Nigeria posts record turnover as pandemic drives data sales

On the other hand, eight equities recorded price appreciation for Wednesday, with Diamond Bank topping the gainers’ chart, with a gain of 20 kobo to close at N5.80 per share.

Sterling Bank garnered 11 kobo to close at N2.41, while Mansard grew by 10 kobo to close at N3.10 per share.

May & Baker increased by 8 kobo to close at N1.72, while Omoluabi Savings and Loans gained 2 kobo to close at 57 kobo per share.

Dangote adbanner 728x90_2 (1)

In all, investors staked N4.02 billion on 400.23 million shares traded in 4,374 deals.This was against 752.77 million shares worth N4.18 billion traded in 4,997 deals on Tuesday.

The Financial Service Sector kept its leading position as the toast of investors with 320.05 million shares worth N2.74 billion in 2725 deals.

The Banking sub-sector drove activities in the sector, accounting for 164.21 million shares valued at N2billion achieved in 1,692 deals.

(NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

‘Nine-year old Plateau State University yet to produce single graduate’

Next Post

New Capital Base: capital market operators want deadline extended to December 2015

Premium Times

Premium Times

More News

Nigerian stocks Exchange

Nigerian stocks deepen loss on profit-taking in WAPCO, MTN, Zenith

March 3, 2021
African Development Bank (AfDB)

African Development Bank approves $27 million loan to Egypt for solar plant

March 3, 2021
Oil Barrels used to illustrate the story. [Photo credit: ThePointNG]

Oil prices rise as OPEC+ unlikely to raise output

March 3, 2021
Nigeria Market street [PHOTO CREDIT: Financial Times]

Blockade: Meat scarcity, high food prices persist in Lagos, Ibadan, others

March 3, 2021
Fertiliser debt stalls salaries of Kaduna council workers – Chairman

Nigeria, Morocco endorse protocols for fertilizer plant

March 3, 2021
Nigerian Economy

Naira gains at parallel market

March 2, 2021
Next Post
Market operators optimistic about new listings rules

New Capital Base: capital market operators want deadline extended to December 2015

LASSA FEVER: Rats used to illustrate the story.

4,400 rats killed in Indian hospital

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,627,660 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.