Nigeria’s equities market decreased on Thursday by 0.11 percent as investors continued their cautious approach at the Nigerian Bourse.
Stocks like Fidson, Ecobank Transnational (ETI), Prestige Assurance and Sunu Assurances were major laggards on Thursday.
Fidson decreased most, from N19.80 to N17.90, losing N1.90 or 9.60 percent. It was followed by ETI which dropped from N34.70 to N31.40, down by N3.30 or 9.51 percent.
Read also: Stocks see mild gain as cautious trading persists on NGX
Also, Prestige Assurance dipped from N1.20 to N1.11, losing 9kobo or 7.50 percent, while Sunu Assurance decreased from preceding day’s high of N5.90 to N5.52, losing 38kobo or 6.44 percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding trading day’s highs of 107,798.99 points and N67.179 trillion respectively to 107,675.46 points and N67.102 trillion.
Stocks like FCMB Group, Zenith Bank, Access Holdings, Jaiz Bank and Caverton were actively traded by investors on Thursday.
In 11,112 deals, investors exchanged 423,420,772 shares valued at N9.565 billion.
The market’s year-to-date (YtD) return stood lower at +4.61 percent. This week, the market has decreased by 0.76 percent.
Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
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