Profit-taking Drags Equities As Investors Lose N1.33trn
The Nigerian stock market experienced a downturn as profit-taking led to a loss of N1.33 trillion in overall capitalization. Dangote Cement Plc and 38 other stocks saw a decline in the index by 0.18%, resulting in a loss of 1.33 trillion.
Market experts predict a bearish trend to persist due to a measured market breadth and negative investor sentiment. Out of the 65 stocks traded, 26 advanced while 39 declined.
Nigerian Enamelware recorded the highest price gain at 9.76%, while Royal Exchange led the losers with a 9.09% decline. Dangote Cement, Briscoe, and Jaiz Bank also saw significant declines.
Total volume traded decreased by 39.7% to 1.56 billion units valued at N2.13 billion. Key activities were seen in Universal Insurance, AIICO Insurance, and Mutual Benefits Insurance.
Investors are advised to stay updated for market movements.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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