• Market loses N7bn as 18 stocks depreciate

    Market loses N7bn as 18 stocks depreciate

    The market capitalisation of equities listed on the Nigerian Stock Exchange fell by N7bn on Monday as 18 companies recorded price depreciation.

    The NSE All-Share Index declined by 0.07 per cent to close at 27,839.93 basis points, while the market capitalisation stood at N9.563tn at the close of trading.

    The NSE ASI and market capitalisation had last week appreciated by 1.02 per cent, closing at 27,858.48 basis points and N9.570tn respectively.

    But the gains recorded during the three days of trading last week […]

  • Market in confusion as naira exchanges at a shocking rate to dollar

    Market in confusion as naira exchanges at a shocking rate to dollar

    There was confusion in the market yesterday as the naira slumped to a new low in both the official and parallel markets, exchanging at N292.90 and N373 to the dollar.

    The local currency however closed at 292.90 to the dollar on the interbank rate after just one transaction was carried out, with dollar supply drying up and no intervention by the CBN, traders said. Traders had expected the CBN to intervene to ease dollar shortages, but that did not materialise.

    The naira‚Äôs […]