Latest stories tagged “Nigerian stock market”
The Nigerian stock market experienced a decline of 1.21% last week as investors opted to take profits, despite an increase in trading activity. Financial services stocks were the primary contributors to this downturn, with ten companies leading the decliners, according to Legit.ng.
The Nigerian stock market recorded a gain of N3.2 trillion for investors during the week, attributed to renewed interest in sectors such as banking, telecommunications, and oil and gas, according to Premium Times Business.
In June, the Nigerian stock market experienced significant losses, with investors losing N13.3 trillion in value on the Nigerian Exchange Limited (NGX), marking the highest monthly loss recorded in the first half of the year. This decline is attributed to profit-taking activities among investors. Additionally, FTSE Russell has delayed Nigeria's Frontier Market status due to concerns regarding the T+1 settlement system, according to Vanguard Business.
The Nigerian stock market experienced a decline of N3.6 trillion, reversing two consecutive days of gains. This drop was attributed to widespread profit-taking activities, particularly in BUA Cement, which saw a 10 percent decrease in its stock value. Additionally, 37 other stocks were affected, contributing to the overall market downturn, according to ThisDay Live.