02 Apr Stock Market Loses N634bn in Q1
The Nigerian stock market shed N634 billion or three per cent in the first quarter (Q1) of 2021. Against expectations, after rising 5.3 per cent in January, the market declined 6.1 per cent in February and fell 1.9 per cent in March, bringing the total decline for the first quarter to three per cent or N634 billion.
The Nigerian Stock Exchange (NSE) market capitalisation fell from N21.063 trillion at the beginning of the year to N20.429 trillion on Wednesday, which was the last day of the quarter.
Similarly, the NSE All-Share Index (ASI) declined from 40,270.72 to 39,045.13.
However, the decline in Q1 of 2021 was better than the 20.6 per cent recorded in Q1 of 2020, when the COVID-19 pandemic impacted the market negatively.
Zenith Bank Plc, Guaranty Trust Bank Plc, Dangote Cement Plc, United Bank for Africa Plc, United Capital Plc, BUA Cement Plc are among some of the companies that attracted increased demand for stocks by investors
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