Bears claw on Nigerian stocks, investors lose N122 billion
SMURFIT (+10.00%) led the gainer’s chart today, while AFRINSURE (-8.33%) was the top loser.
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Nigerian bourse ended today’s session bearish.The All Share index plunged by 0.60% to 38,707.87 index points.Year-to-date return and market capitalization settled at -3.90%, and N20.25 trillion, respectively.Investors’ losses stood at N122.47 billion.Volume and value traded fell by -54.02% and -56.85% as 169.3 million units of shares valued at N2.11 billion exchanged hands in 3,568 deals.AIICO was the most traded shares by volume at 19.67 million shares, while ZENITHBANK topped by value at N247.
4 million.
However, the market breadth index was positive with 23 gainers against 11 losers.
SMURFIT (+10.00%) led the gainer’s chart today, while AFRINSURE (-8.33%) was the top loser.Top gainers SMURFIT up 10.00% to close at N0.22 INTBREW up 9.89% to close at N5 CHAMPION up 9.09% to close at N2.4 ROYALEX up 8.33% to close at N0.26 LIVESTOCK up 7.65% to close at N1.83 Top losers AFRINSURE down 8.33% to close at N0.22 MBENEFIT down 7.14% to close at N0.39 SOVRENINS down 7.14% to close at N0.26 UPL down 4.92% to close at N1.16 JAIZBANK down 4.41% to close at N0.65 Outlook
Nigerian bourse at the fourth trading session of the week was negatively impacted by losses recorded in low and medium capitalized stocks.
Nairametrics envisages cautious buying amid renewed profit-making seen across the market spectrum.
Olumide Adesina is a France-born Nigerian.He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading.Follow Olumide on Twitter @tokunboadesina.
He is a Member of the Chartered Financial Analyst Society.1 Comment ANYE ETIM OLON March 11, 2021 at 5:58 pm
I am regular reader of financial economy column.may I request if you have a platform to coach upstarts on fintech and other related virtual exposures.Your email address will not be published.Comment Cryptocurrency 3 Cryptos doubling returns for investors in 7 days
3 fast-rising cryptos have surpassed Bitcoin at least five folds in the past 7 days, having registered weekly gains of more than 150%.
Published Olumide Adesina
The world’s flagship crypto, Bitcoin, is presently on a strong bullish run in regards to breaching another all-time high of $58,400 before pulling back around $ 57,800 as weekly gains of just 20%.
Still, 3 fast-rising cryptos have surpassed Bitcoin at least five folds in the past 7 days, having registered weekly gains of more than 150% at the time of drafting this report.
Skale – 325%
Skale is a crypto asset that is an elastic network that’s designed to bring scalability to Ethereum coupled with boosting transaction capacity, as recorded impressive growth for the past one week with gains standing at 325% At the time of writing this report, SKALE Network traded at $1.12 with a daily trading volume of $1.3 Billion.
Trading the crypto asset can be done on Crypto exchanges like Binance, Huobi Global, CoinTiger, ZT, and BiONE.
READ: List of Cryptos outperforming Bitcoin, with weekly gains of over 100%
Chiliz – 242%
The top rising digital token designed by Socios for football engagement is enjoying a record-buying spree as it gained about 242% in the past 7 days.
The football-based blockchain, originally created to allow football fans to buy the sports tokens that let them support their teams, has also hit another landmark on the account that its market value is now hovering above $2.4 billion.
The sport backed blockchain is popularly known for its investments in European soccer, recently disclosed it will invest $50 million in an expansion to the world’s largest economy,
Presently, Chiliz is also holding talks with the prestigious car race championship popularly known as Formula One, as the company tries to strengthen its grip on other sports.
That being said, the football based crypto can be traded on the following crypto exchange trading that includes OKEx, HBTC, Binance, Huobi Global, and Xtheta Global.
READ: Why Bitcoin could be worth $1,000,000
Theta Fuel – 159%
Theta Fuel has in recent times has printed impressive gains that would make Bitcoin, Ethereum, and many altcoins green.
At the time of publication, Theta Fuel’s price today is $0.401702 with a daily trading volume of about $378 million.Theta Fuel is up 159% in the week
Theta Fuel was designed from the Theta mainnet about two years ago and it is created to be a sort of operational token of the protocol, powering on-chain operations like sending payments and deploying smart contracts.
READ: Bitcoin produces 94,000 millionaires
TFUEL is presently the 50th most valuable cryptocurrency in the world with a market capitalization of about $2.1 billion.
Theta fuel can be bought indirectly on most cryptocurrency exchanges like Binance and Coinbase.
You will need to already possess an Ethereum or Bitcoin (BTC) to trade with..