Monday, September 27, 2021
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    Lagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares…

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    In the just concluded week, the domestic equities market closed southwards as investors booked profit given the recent price increases in blue-chip stocks across sub-sectors, especially banking sub-
    sector.

    Hence, the NSE ASI tanked week-on-week
    by 0.05% to close at 25,591.95 points. Similarly, sub-sector performance was tepid as most of the gauges tracked closed in red save the NSE Industrial index which rose by 0.35% to 1,128.20
    points.

    The NSE Banking index led the laggards
    by 2.69% to close at 293.97 points as most
    investors sold off their holdings to take profit on Tier 1 tickers.

    Similarly, the NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices moderated by 0.66%, 0.27%, 1.25% to close at 134.11 points, 432.11 points, and 191.77 points respectively.

    Meanwhile, market activity was mixed as total deals and Naira votes rose by 9.09% and 6.77% to 19,529 deals and N10.84 billion respectively.

    However, total value of stock traded moderated by 2.32% to 1.22 billion shares.

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