ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Capital Market

Nigerian Stock Market Records N51 Billion Dip in Market Capitalization

Business 360 by Business 360
February 27, 2024
in Capital Market
0
NSE goes tough on quoted companies

In a notable downturn, the Nigerian Exchange Ltd. (NGX) experienced a decrease in market capitalization by N51 billion on Monday. The market opened at N55.861 trillion and closed at N55.810 trillion, marking a 0.09 per cent decline. The All-Share Index also dropped by 0.09 per cent or 93 points, concluding at 101,995.53, compared to Friday’s 102,088.30.

The Year-To-Date (YTD) return consequently fell to 36.41 per cent, reflecting a challenging start for investors. The market’s poor performance was primarily attributed to selloffs in key stocks of Tier-one banks, including FBN Holdings, United Bank for Africa (UBA), Zenith Bank, and Dangote Cement.

A total of 294.32 million shares valued at N6.72 billion were exchanged in 9,957 deals, indicating increased trading activity compared to the previous session. This represented a trade turnover that settled higher, with the value of transactions up by 11.69 per cent.

On the losers chart, Nestle Nigeria Plc led with a 10 per cent decline to close at N990 per share. Eterna Plc followed closely, losing 9.97 per cent to close at N15.80 per share. Other notable losers included FIDSON Healthcare Plc, CWG Plc, and Sunu Assurances, declining by 9.82 per cent, 9.56 per cent, and 9.09 per cent, respectively.

Conversely, National Salt Company of Nigeria (NASCON) led the gainers’ table with a 10 per cent increase, closing at N66. Juli Plc gained 9.83 per cent, closing at N2.57 per share. FBN Holdings appreciated by 9.68 per cent, closing at N34, while WAPIC Insurance rose by 8.96 per cent to close at 73k. Daar Communications also recorded an 8.86 per cent increase, closing at 86k per share.

On the activity chart, FBN Holdings dominated both in volume and value, trading 73.84 million shares valued at N2.42 billion. United Bank of Africa (UBA) followed closely, selling 20.67 million shares worth N493.05 million, and Zenith Bank traded 20.62 million shares valued at N731.41 million.

Despite the market challenges, the breadth closed positively with 28 gainers and 26 losers on the trader’s chart, indicating mixed sentiments among investors. The Nigerian stock market continues to be closely monitored as participants navigate through various economic factors influencing market dynamics.

Previous Post

CBN Slashes Customs Duty Exchange Rate as Naira Strengthens

Next Post

Oil Prices Hold Steady Amid Red Sea Attacks and Supply Concerns

Business 360

Business 360

Next Post
Oil slips as surge in virus cases cloud demand recovery, Dollar edges lower as Stocks climb with futures

Oil Prices Hold Steady Amid Red Sea Attacks and Supply Concerns

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FMDQ Exchange Admits Flour Mills of Nigeria’s ₦30.00bn Commercial Paper Notes

FMDQ Admits TSL SPV PLC ₦12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bond to its Platform

March 11, 2021
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

October 21, 2020
SMEs in Nigeria must be ready to grow with or without Government …Evans Edozie, C.E.O., Cospharma Nig. Ltd.

SMEs in Nigeria must be ready to grow with or without Government …Evans Edozie, C.E.O., Cospharma Nig. Ltd.

September 21, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
SEC Launches Comprehensive Technology Adoption Survey for Capital Market Operators

SEC Launches Comprehensive Technology Adoption Survey for Capital Market Operators

May 7, 2025
Gencos Urge President Tinubu to Expedite Meeting Over N4.7tn Power Sector Debt

Gencos Urge President Tinubu to Expedite Meeting Over N4.7tn Power Sector Debt

May 7, 2025
Nigeria’s Data Privacy Sector Generates $10 Million and 23,000 Jobs in Three Years

Nigeria’s Data Privacy Sector Generates $10 Million and 23,000 Jobs in Three Years

May 7, 2025
PETROAN Warns Against Blanket Ban on Imported Goods, Cites Economic Risks

PETROAN Warns Against Blanket Ban on Imported Goods, Cites Economic Risks

May 7, 2025
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • Agriculture
  • AI
  • Art
  • Arts
  • Aviation
  • Banking
  • Blockchain
  • Business 360 Weekly
  • Business news
  • Business Travels
  • Capital Market
  • CHINA
  • Corporate
  • Cryptocurrency
  • Destination Business
  • East Africa
  • Economy
  • Education
  • Electric Vehicles
  • Electricty
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • EV
  • Fashion
  • Fashion
  • Feature
  • Finance
  • Gas
  • Global Economy
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • Mortgage
  • News
  • NGOs
  • Oil
  • Petrol
  • Political Economy
  • politics
  • Real Estate
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • South Africa
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tax
  • Tech
  • Tourism
  • Transportation
  • UK
  • Uncategorized
  • US
  • World

Recent News

SEC Launches Comprehensive Technology Adoption Survey for Capital Market Operators

SEC Launches Comprehensive Technology Adoption Survey for Capital Market Operators

May 7, 2025
Gencos Urge President Tinubu to Expedite Meeting Over N4.7tn Power Sector Debt

Gencos Urge President Tinubu to Expedite Meeting Over N4.7tn Power Sector Debt

May 7, 2025
  • Africa
  • World
  • Our Shows

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!