• Sunday, December 10, 2023
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Equities market goes further south

Okomu, Eterna, other stocks cause NGX negative start to new week

Nigeria’s equities market which opened the month of April in red, decreased further by 0.27percent or N84billion on Tuesday April 4.

The record consecutive negative close this month pushed lower this year’s record positive return to 5.43percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding day’s high of 54,184.34 points and N29.517trillion respectively to 54,035.39points and N29.436trillion.

Read also: FMDQ Exchange lists Dangote Industries Funding N300bn bonds on its platform

The stock market’s weak performance was caused majorly by continued selloffs in stocks like Zenith (-2.52percent), GTCO (-3.15percent) and Lafarge Africa (-0.77percent).

Analysis of Tuesday’s market activities showed trade turnover settled higher relative to the preceding day’s session, with the value of transactions up by 28.82percent.

The market recorded total of 296.74million units of shares traded in 4,590 deals and valued at N3.07billion.