The Nigerian Exchange Ltd. (NGX) opened on Monday, opening the week positively, with an N84 billion profit added to investors\u2019 portfolios.<\/p>\n
Specifically, the market capitalisation opened at N58.920 trillion and gained N84 billion or 0.14 per cent to close at N59.004 trillion.<\/p>\n
The All-Share Index also gained 0.14 per cent or 138.1 points, to close at 97,374.25, against 97,236.19 recorded on Friday.<\/p>\n
Consequently, the year-to-date return increased to 30.23 per cent.<\/p>\n
Demands for Aradel, Flourmill, and AXA Mansard drove the market\u2019s positive performance.<\/p>\n
However, market breadth closed negative, with 27 losers and 24 gainers.
\nUnited Capital led 26 other declined equities on the losers\u2019 table by 9.78 per cent to close at N16.15 per share.<\/p>\n
Also, Eunisell Ltd. led 23 other equities on the gainers\u2019 table by 10 per cent to close at N9.02 per share.<\/p>\n
Analysis of the market activities showed trade turnover settled lower when compared with the previous session, with the value of transactions down by 20.21 per cent.<\/p>\n
A total of 297.83 million shares valued at N7.52 billion were exchanged in 9,902 deals, compared with 478.94 million shares valued at N9.42 billion traded in 9,015 deals posted in the previous session.<\/p>\n
Meanwhile, Sterling Nigeria led the activity chart in volume with 36.13 million, while UBA led the value chart in deals worth N1.04 billion.<\/p>\n
In its prediction for the week\u2019s market performance, analysts at Cowry Asset Management Ltd. said mixed sentiment was expected to persist as portfolio rebalancing continues.<\/p>\n
The analysts stated that despite the recent downturn, a near-term rebound was anticipated, adding that investor sentiment was expected to remain cautious.<\/p>\n
They said, \u201cThe release of October\u2019s Consumer Price Index figures by the National Bureau of Statistics could further weigh on market sentiment, with persistent inflationary pressures and potential currency volatility keeping investors on the edge.<\/p>\n
\u201cAs a result, we advise investors to focus on fundamentally sound stocks while remaining mindful of broader economic conditions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian Exchange Ltd. (NGX) opened on Monday, opening the week positively, with an N84 billion profit added to investors\u2019 portfolios. Specifically, the market capitalisation opened at N58.920 trillion and gained N84 billion or 0.14 per cent to close at N59.004 trillion. The All-Share Index also gained 0.14 per cent or 138.1 points, to close […]<\/p>\n","protected":false},"author":25,"featured_media":55585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-55584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/55584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=55584"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/55584\/revisions"}],"predecessor-version":[{"id":55586,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/55584\/revisions\/55586"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/55585"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=55584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=55584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=55584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}