The sessions of mixed trading seen this week signposts the inability of the bulls to take full control of activities in Nigeria’s equities market.
Following a positive close on Wednesday, the stock market activity as anticipated closed slightly in red zone (-0.01percent) showing that investors are still unwilling to continue bargain hunting ahead of first half (H1) earnings release.
This week, the market has decreased by 0.34 percent while the negative return year-to-date (YtD) stood at -5.97 percent. Month-to-date (MtD), Nigeria’s equities market has decreased by 0.11 percent.
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Topmost on the laggards list on Thursday July 15 is Ikeja Hotel Plc which dropped from N1.40 to N1.27, losing 13kobo or 9.29percent. It was followed by that of UPDC which also decreased from day-open high of N1.43 to N1.30, losing 13kobo.
The Nigerian Exchange Limited (NGX) All Share Index and Market Capitalisation which stood at 37,872.55 points and N19.732trillion respectively the preceding trading day closed lower at 37,866.9 points and N19.729trillion.
Investors lost about N3billion at the close of trading session on Thursday. In 3,038 deals investors exchanged 159,996,570 shares valued at N927.858million.
