Nigerian Equities Market Sees Negative Returns Amidst Global Stock Market Downturn

On the heels of the recent increase in the benchmark interest rate to 24.75 per cent by the Central Bank of Nigeria , Nigerian equities market has seen three consecutive weeks of negative returns.

In United States, the Dow Jones Industrial Average and S & P 500 Index dropped by 3.0 per cent and two per cent. United Kingdom’s FTSE 100 Index declined by 0.6 per cent. Japan’s Nikkei 225 Index depreciated by 3.4 per cent. The STOXX Europe Index, which broadly tracks the European markets, dropped by 1.4 per cent. However, China’s SSE Index rose by 0.9 per cent.The All Share Index - the value-based index that tracks all share prices at the Nigerian Exchange , closed weekend at 103,437.

FBN Holdings led the decliners with a loss of 14.21 per cent to close at N30.50. Sterling Financial Holdings Company followed with a drop of 12.96 per cent to close at N4.70. Julius Berger Nigeria dropped by 11.36 per cent to close at N58.50. CWG declined by 10 per cent to close at N6.75. C & I Leasing lost 9.76 per cent to close at N3.70 while Thomas Wyatt Nigeria dipped by 9.63 per cent to close at N1.97 per share.On the positive side, Cutix led the advancers with a gain of 22.

The three most active stocks were Abbey Mortgage Bank Plc, Tourist Company of Nigeria Plc and Zenith Bank Plc. They altogether accounted for 2.175 billion shares worth N20.667 billion in 2,594 deals, representing 59.10 per cent and 35.70 per cent to the total equity turnover volume and value.

Source: News Formal (newsformal.com)

Nigerian Equities Market Benchmark Interest Rate Central Bank Of Nigeria Global Stock Market Geopolitical Crisis Rising Oil Prices Dow Jones Industrial Average S&P 500 Index FTSE 100 Index Nikkei 225 Index STOXX Europe Index SSE Index

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Negative Sentiment Persists as Nigerian Equities Sector Dips by 0.4%The equities sector of the Nigerian Exchange Limited (NGX) experienced negative sentiment as the all-share index (ASI) decreased by 0.4%. Market capitalisation also declined by N252 billion.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Things to Consider Before Investing in the Nigerian Stock MarketDiscover actionable strategies for wealth building in Nigeria’s stock market with these expert tips for successfully investing in the Nigerian stock market. Learn to create a robust investment strategy, understand stock processes, and effectively diversify your portfolio for long-term success.
Source: TODAY - 🏆 12. / 53 Read more »

Nigerian Foreign Exchange Market Records Increased Dollar Turnover in Q1'24The volume of dollar traded in the official Nigerian Foreign Exchange Market increased by 95% to $12.68 billion in Q1'24. The market recorded a turnover of $2.14 billion in January, which increased to $5 billion in February and $5.54 billion in March. Turnover in the fourth week of March reached $1.98 billion, the highest weekly turnover in the month.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

US Dollar to Nigerian Naira Black Market Exchange RateThe US Dollar to Nigerian Naira exchange rate in the Nigerian black market had an average of ₦1,315.817.00 today, 31/03/2024. This page converts USD to NGN using live currency rates.
Source: TODAY - 🏆 12. / 53 Read more »

FX spot, derivative turnover dips by 52.9 per cent as equities shed 1.1%Foreign exchange (FX) spot and derivatives markets turnover for the week ended April 5, 2024, was $918.15 million, representing a decline
Source: GuardianNigeria - 🏆 1. / 94 Read more »

NGX market capitalisation down by 0.08%Transaction activities of the stock market on the Nigerian Exchange Ltd. (NGX) declined by 0.08 per cent, making the market capitalisation to close the week at N59.121 trillion.
Source: GuardianNigeria - 🏆 1. / 94 Read more »