Nigeria’s equities market recorded another negative close on Thursday by 0.49 percent, thereby rerouting this week’s returns into the negative region of 0.32 percent.
The record decrease on the Nigerian Exchange Limited (NGX) was possible due to activities of profit-takers in banking, consumer goods, industrial and oil & gas stocks, despite mild gains in insurance counters.
NGX Banking Index recorded the highest decrease on Thursday by 1.41 percent, followed by NGX Consumer Goods Index which was down by 0.92 percent.
Also, NGX Industrial Index was down by 0.45 percent while NGX Oil & Gas Index dipped slightly by 0.02 percent. NGX Insurance Index, the only advancer closed higher by 0.44 percent. The stock market’s year-to-date return decreased to 35.56 percent.
Read also: Insurance stocks drag NGX-ASI down by 0.36%
At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation decreased further from preceding trading day’s highs of 141,248.76 points and N89.372 trillion to 140,557.24 points and N88.934 trillion.
Stocks like Omatek, Ellah Lakes and Royal Exchange occupied the major laggards list. Omatek dropped from N1.45 to N1.32, losing 13kobo or 8.97 percent. Ellah Lakes dipped from N14.95 to N13.68, losing N1.27 or 8.49 percent, while Royal Exchange decreased from N2.15 to N2, losing 15 kobo or 6.98 percent.
Securities traders in 26,163 deals exchanged
885,022,884 shares valued at N28.3billion on Thursday. Champion Breweries, Access Holdings, GTCO, Sterling Financial Holdings Company and First Holdco were actively traded.
