Stock market seen flat on minimal activity

As minimal trading activity continued on the Nigerian Bourse, the market closed flat on Tuesday, September 13. This week’s treasury bills primary market auction had fuelled market watcher’s negative outlook this week.

The market’s month-to-date (MtD) return remained at a negative of 0.42percent, likewise its positive return this year which stood at +16.18percent.

In 3,847 deals, equities dealers exchanged 160,243,526 shares valued at N1.487billion. Zenith Bank, Courteville Business Solutions, Transcorp, International Energy Insurance, and Chams were top-5 traded stocks.

While Red Star Express, Caverton and Livestock Feeds occupied the top laggards league, Multiverse, NPF Microfinance Bank, and Pharma-Deko were top-3 on the advancers list.

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Red Star Express decreased most, from N2.70 to N2.43, losing 27kobo or 10percent, it was followed by Caverton which dropped from N1.10 to N1.05 , losing 5kobo or 4.55percent; and Livestock Feeds which dipped by 5kobo or 4.31percent, from N1.16 to N1.11.

Multiverse led the advancers after its share price rose from N2.58 to N2.83, up by 25kobo or 9.69percent, followed by NPF Microfinance Bank which moved from N1.53 to N1.65, adding 12kobo or 7.84percent, and Pharma-Deko which also rose by 10kobo, from N1.95 to N2.05, up by 5.13percent.

The stock market’s All-Share Index (ASI) and capitalisation closed at 49,627.72 points and N26.768trillion respectively as against preceding day’s 49,625.71 points and N26.767trillion.