Stock market furthers losing streak by 0.02%

Nigeria’s equities market furthered its losing streak on Thursday by 0.02 percent amid persisting lull on the buy-side of the Lagos Bourse.

This week, the market has decreased by 1.98percent while it has dipped by 4.22percent this month, pushing further lower the record positive return year-to-date (YtD) to 1.35percent.

At the close of trading session on Thursday, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and its equities market capitalisation decreased to 51,944.58 points and N28.295trillion respectively.

May & Baker led the league of laggards after its share price moved down from preceding day
N4.50 to N4.05, losing 45kobo or 10percent while Ikeja Hotel followed, from N1.19 to N1.08, losing 11kobo or 9.24percent.

Multiverse also made the top decliners list after dipping from N2.50 to N2.31, losing 19kobo or 7.60 percent, followed by that of Academy Press which dropped from a high of N1.35 to N1.26, losing 9kobo or 6.67 percent and NPF Microfinance Bank which also dropped from N1.90 to N1.78, losing 12kobo or 6.32percent.

Transcorp, Fidelity Bank, UBA, Zenith Bank and FCMB Group were top-5 traded stocks on Thursday as investors in 3,743 deals exchanged 302,919,513 shares valued at N2.023trillion.