Business News

Investors Wealth Shrinks N673bn as MTN, FBN Holdings, Oando Stocks Fall

Investors Wealth

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further depreciated by 1.20 per cent on Wednesday on persistent profit-taking spurred by low confidence in a few blue-chip stocks. The selling pressure shrank investors wealth by N673 billion during the midweek session to N55.494 trillion from the preceding day’s N56.167 trillion, and the All-Share Index (ASI) went down by 1,190.24 points to 98,121.30 points from 99,311.54 points. The worst-performing equities for the day were MTN Nigeria and Transcorp Hotels, which lost 10.00 per cent each to close at N201.60, and N87.93, respectively. Oando shed 9.90 per cent to N9.10, FBN Holdings