Market Cap Loses N20 billion as Consumer Good Stocks Get Pummeled

  • As NITTY Moves in Mixed Directions …
  • The Nigerian Bourse fell by 18 bps amid sustained profit taking activity, presenting buy opportunities as stock prices continued their downward

    This was despite the Exchange recording 14 gainers as against 12 losers. Pummeled shares of Dangote Sugar Refinery lowered the NSE
    Consumer Goods index by 0.17%.

    Thus, market capitalization fell by N20 billion to close N11.73 trillion while on a year-to-date basis, the loss of
    the All Share Index increased to 15.95%.

    Elsewhere, NIBOR rose for most tenor buckets amid liquidity strain while NITTY moved in mixed

    In the bond market, OTC FGN Bonds moved in mixed directions across maturities while FGN Eurobonds fell for all maturities tracked
    on bearish activity.

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    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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