Bears control the Nigerian stock market in February 2018
by TELIAT SULE
March 4, 2018 | 12:34 am| | | Start Conversation
The stellar performance of the Nigerian capital market in January 2018 drew the attention of profit takers who seized the opportunity to recoup as much gains from the market as possible.
Thus in February 2018, the market capitalisation of the listed equities fell by N346 billion, although it still closed at 14.26 percent on February 28.
The All Share Index (ASI) closed at 13.30 percent. As at the end of February, only the NSE ASeM closed lower at -2.56 percent.
Sixty-seven equities closed in the positive territory out of which 47 equities outperformed the All Share Index. Prices of twelve equities remained unchanged while 29 stocks shed various amounts. The best performing stocks in February are Unity Bank, 235.8 percent; CCNN,107.9 percent; Skye Bank,94 percent; Wema Bank, 90.4 percent and FCMB, 70.9 percent.
The worst performing stocks during the period are Royal Exchange,-34 percent; Multiverse, -40 percent; Courtville, -46 percent; Hallmark Insurance, -48 percent and Unic insurance, -52 percent.
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