Stock market plunge wipes out N448bn in investor wealth
Post AMUGE
October 28, 2024
Onome Amuge The Nigerian stock market experienced a severe sell-off on Monday, with equities investors incurring losses of over N448 billion. A vicious cycle of selling pressure triggered a sharp decline of 0.74 percent in key performance indicators, kick-starting the new trading week on a negative footing for the Nigerian equity market. The All-Share Index […]
Bulls extend dominance as market cap adds N197.4bn, Index up 0.33%
Post AMUGEOctober 15, 2024
Bamidele Famoofo The local bourse continued its bullish momentum today, with the All-Share Index (ASI) rising by 0.33 per cent to close at 98,540.93 points. This gain led to a corresponding increase in market capitalization, up by 0.33 per cent to ₦59.71 trillion, adding ₦197.4 billion to investors’ portfolios. Consequently, the year-to-date (YTD) return increased […]
Nigerian equities wrap up volatile week with investors’ gain of N49.53bn
Post AMUGEOctober 12, 2024
Tantalizer, Coronation, Fidelity top in volume trades Onome Amuge Investors in the Nigerian equities market experienced a rollercoaster week of trading, with a modest overall gain of N49.53 billion, as the market capitalisation of the Nigerian Exchange Group (NGX) inched up from N56.03 trillion to N56.08 trillion. The marginal increase comes on the heels of […]
Bears decimate equities market as investors suffer N539.09bn loss
Post AMUGEOctober 5, 2024
Onome Amuge In a week to forget for investors in the Nigerian equity market, the Nigerian Exchange (NGX) saw a loss of N539.9 billion on the trading floor as market capitalisation of quoted equities dropped from N56.577 trillion to N56.038 trillion. The decline contrasted sharply with the previous week’s gain of N121.07 billion. The All-Share […]
Nigerian equities march to N454.86bn on NGX bullish beat
Post AMUGESeptember 21, 2024
Business a.m. Investors in the Nigerian equities market were rewarded with a profitable trading week as the Nigerian Xchange Group (NGX) recorded a rise in market capitalisation to N56.46 trillion, a N454.86 billion increase from the prior week’s N56.00 trillion. The profitable week for investors follows on the heels of a successful previous week, where […]
S&P 500 in superlative outing as stocks gain
Businessam StaffAugust 31, 2020
The S&P 500 hovered near record highs on Monday as bets on an economic revival due to prolonged central bank support put the index on course for its best August in decades. The Federal Reserve’s commitment to tolerate inflation and keep interest rates low, positive developments in vaccines and treatments for COVID-19 and a momentum-driven […]
U.S.-China phone call pushes European shares up
Busineessam StaffAugust 25, 2020
European shares moved up by some notches on Tuesday, with market sentiment propped up by the United States and China saying they are still committed to their phase one trade deal and some increased optimism around COVID-19 vaccine development. After the STOXX 600 saw its biggest daily gain in almost two weeks on Monday, the […]
Equities in downward spiral as investors’ doubts persist, lose N38bn
Businessam StaffJune 23, 2020
Investors refrained from high trading on the floor of the Nigerian Stock Exchange yesterday as they wait to see the direction of the economy in the face of mounting Coronavirus pandmic cases. Equities shed a total of N38bn at the end of trading. Both the NSE all share index and market capitaisation fell as a […]
Wall Street grows in momentum as investors prioritise fundamentals above virus cases
Businessam StaffJune 22, 2020
Wall Street’s three major indexes gained ground on Monday with the biggest boost from technology stocks as investors appeared to look past the potential economic impact of rising coronavirus cases in the United States and other major economies. The World Health Organization reported a record rise in global coronavirus cases on Sunday, driving demand for […]
Wall Street advances on signs of economic rebound
Businessam StaffJune 2, 2020
U.S. stocks posted modest gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on lifting lockdown restrictions and signs of economic recovery. Cyclical stocks like financials and industrials gave the biggest lift to the S&P 500 and the Dow, while tech shares boosted the Nasdaq. “There is […]