Investors bartered 261 million shares Wednesday on the Lagos floor of the Nigerian Stock Exchange (NSE) just as the two top market indicators headed south in bearish trading.
At the close of business, both the All Share Index and market capitalisation were down to 27,098.18 points and N9.307 trillion respectively as against their opening levels of 27,475.48 and N9.436 trillion. This downward trajectory might not been unconnected with the bearish sentiments still pervading the market.
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For instance, the list of decliners was still longer than the price advancers at 16 to 18.
Meanwhile, the Group Managing Director and Chief Executive Officer of Vitafoam Nigeria Plc, Mr Taiwo Adeniyi, has expressed optimism that the company’s performance would not be affected adversely by the current business volatility in the country .
Adeniyi, who unfolded some strategies to sustain shareholder value, explained that Vitafoam remained committed to value creation and delivery as one of the fundamental principles that define the company’s operations.
Commenting on the current efforts to sustain its competitive edge, he noted that the company places premium on the realignment of internal processes to cut waste, develop human capital and invest in Research and Development in consonance with the needs of the customers.
Adeniyi stated that the company‘s shareholder value would not be compromised, hence the need to remain innovative and competitive.