The Nigerian Bourse closed further in the red zone on Wednesday September 25 as investors continued to show less interest in listed equities.

The stock market has witnessed increased selloff lately in the wake of positive news that could drive buy decisions on Custom Street.

At the sound of trade closing gong, Dangote Cement Plc recorded the highest loss after its share price decreased from N154 to N152, losing N2 or 1.30percent. Guinness Nigeria Plc followed after it share price dropped from N35.5 to N34.45, losing N1.05 or 2.96percent, while MTNN Plc also dipped by N1, from  N139 to N138, down by 0.72percent.

On the gainer table, International Breweries Plc rallied most from N12 to N12.6, adding 60kobo or 5percent.

Read also:  MTN is Nigerians largest listed company for now

Nigerian Breweries Plc advanced from N52 to N52.5, adding 50kobo or 0.96percent, while Custodian Investment Plc rose from N5.85 to N6.3, adding 45kobo or 7.69percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.25percent on Wednesday pushing the month to date (MtD) negative return further to -1.50percent and year-to-date (Ytd) negative return was also down by -13.20percent.

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The NSE ASI closed lower at 27,283.05 points as against preceding trading day high of 27,352.24 points.

The value of listed stocks decreased by N33billion to N13.281trillion as against N13.314trillion recorded the preceding day.

In 2,895 deals, stocks dealers exchanged 462,314,616 units valued at N7.924billion. Access Bank Plc, Custodian Investment Plc, Nigerian Breweries Plc,  FBN Holdings Plc, and Union Bank of Nigeria Plc were actively traded stocks on the Bourse.

With most indicators coming in stronger in the day’s trading session as evidenced by most sectors closing higher, improved market breadth and increased transaction size, research analysts at Lagos-based Vetiva expect the market to witness renewed interest on Thursday “as investors take position in fundamentally sound stocks that have declined in recent sessions.”

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By Iheanyi Nwachukwu • September 26, 2019

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. 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). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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