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Stock Market
The Nigerian stock market capitalisation dropped to N162.84 trillion as investors lost more than N812 billion
The Nigerian stock market edged higher on Monday as investors gained more than N288 billion following a sharp positive price appreciation in some tickers.
The Nigerian stock market capitalisation closed at N158.70 trillion at the end of July with a year-to-date return of 57.62% following significant sell-offs last week.
Zenith Bank, Access Holdings, FirstHoldco, among others, dragged the Nigerian Exchange (NGX) down by more than N1 trillion, further reducing year-to-date returns.
The Nigerian Exchange (NGX) All-Share Index (ASI) declined as equities investors lost about N648 billion, reversing the previous day’s rebound.
Investors in the Nigerian stock market gained N481 billion as renewed demand for insurance stocks lifted the market ahead of the July 31 insurance recapitalisation deadline.
The Nigerian Exchange (NGX) All-Share Index (ASI) recovered from sell pressures on Tuesday