• Sunday, June 23, 2024
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Equities market furthers its negative close by 0.14%

Stocks shed over N860bn as rate hike effect lingers

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) on Thursday decreased for the second time this week by 0.14 percent, from day-open high of 47,360.79 points to 47,296.07 points.

Likewise, the value of listed stocks on the Nigerian Bourse decreased by N34billion, from preceding day high of N25.524 trillion to N25.490 trillion.

The Nigeria stock market’s positive return year-to-date (Ytd) decreased to 10.72percent.

Top on the list of stocks that fueled the negative close at the Nigerian Exchange Limited include
NGX Group which decreased from preceding day high of N23.10 to N20.80, losing N2.30 or 9.96percent; followed by CAP Plc which decreased from N19.50 to N17.55, losing N1.95 or 10percent; and RT Briscoe which dropped from 70kobo to 63kobo, shedding 7kobo or 10 percent.

Read also: NGX Group grows full-year profit by 22.2%

Other major laggards are RedStar Express which dropped from a high of N3.68 to N3.32, losing 36kobo or 9.78percent and Royal Exchange which dipped from N1.65 to N1.49, losing 16kobo or 9.70percent of its day-open value.

Transcorp, MTNN, NGX Group, FBN Holdings and UPDC were most traded stocks on Thursday at the Nigerian Exchange Limited. In 7,056 deals, investors exchanged 243,436,768 shares valued at N6.875billion.