Despite opportunities for bargain hunting in some stocks occasioned by cheap valuations, investors who are still in their cautious mood are ignoring them.
The stock market of Africa‘s largest economy still closed in the negative on Wednesday, dipping by -0.07 percent.
This has pushed higher the record negative return this February to -4.59 percent. The market’s positive return year-to-date (YtD) printed lower at +0.48 percent.
Beta Glass led the laggards on Wednesday after its share price moved down from N55.4 to N50, losing N5.4 or 9.75percent.
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalisation decreased from preceding day high of 40,494.35 points and N21.184trillion respectively to 40,465.32 points and N21.169trillion. Investors booked a loss of N15billion at the close of the trading session.
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Japaul Gold was also down, from 79kobo to 72kobo, losing 7kobo or 8.86 percent, while Fidson Healthcare dipped from N5.85 to N5.35 after losing 50kobo or 8.55 percent.
Also, Chi Plc decreased by 3kobo, from 38kobo to 35kobo, shedding 3kobo or 7.89percent, while Vitafoam moved from the preceding day high of N8.6 to N7.95, losing 65kobo or 7.56kobo. In 4,083 deals, investors exchanged 244,202,231 units valued at
N2.653billion.
