Feyisayo PopoolaDespite analysts’ predictions that the performance of the nation’s stock market would begin picking up in the second half of the year, investors have recorded losses totalling N291bn in the four days since the second half of the year began. At the end of trading on Thursday, the market closed N33bn lower at a market capitalisation value of N12.915tn. Analysts are, however, hopeful for a turnaround as the stock market is set to receive Airtel Africa’s shares to trading on the floor of the Exchange, which would add N1.36tn to the total market capitalisation. The general performance across sectors was bearish as all sectors, save the industrial and consumer goods indices, recorded losses. The top five losers were Presco Plc, Sovereign Insurance, Wapic Insurance, Japaul Oil and Maritime Services Plc and Chams Plc.

Source: Punch July 05, 2019 04:18 UTC