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Another spate of downturn in activities in the capital market that resumed Tuesday saw investors losing N279 billion in their investment.
The bearish trend in the Nigerian capital market continued for the second day running as only twelve stocks recorded share price gain, forcing the value of listed equities on the Nigerian Stock Exchange (NSE) to drop by N256.26 billion.
Investors lost N279.26 billion on the Nigerian Stock Exchange (NSE), yesterday, as the bears continued to strengthen their hold on activities in the capital market.
THE bearish trend in the Nigerian capital market continued for the second day running as only 12 stocks recorded share price gain, forcing the value of listed equities on the Nigerian Stock Exchange (NSE) to drop by N256.26 billion.
THE bullish trend in the Nigerian capital market was halted yesterday as investors took advantage of the upsurge in the prices of some stocks leading to a drop in the value of listed equities in the Nigerian Stock Exchange (NSE) by N33.83 billion.
After attaining a record high over N81 billion gain in the market capitalisation on Monday, the stock market lost another N34 billion yesterda, to mark a halt in the recovery that commenced last two Thursday, whereby investors had garnered about N846 billion in value terms.
As market resumed yesterday, the market Capitalisation chalked up N81 billion to close at N8.390 trillion.
Investors' preference for the shares of banking sub-sector since the resumption of bears market last week saw the sector topping the performance chart in terms of volume and value of equities traded.
Driven by gains on the share prices of majority of the listed equities, the value of listed equities on the Nigerian Stock Exchange (NSE), represented by market capitalisation appreciated last week by N780 billion.
The bank's promise to grow its profit to N28.03 billion by 2010 could be realized before then if only it could sustain the impressive growth rate it recorded this year.
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