Nigeria’s equities market on Thursday recorded its first decline this week, as sell-side pressure forced the Bourse to close lower by 0.52percent.
Investors lost about N127billion at the close of trading session, driven majorly by record dip in the share price of Pharma Deko which topped on laggards list after decreasing from N2.05 to N1.85, losing 20kobo or 9.76percent.
Read also: NGX builds capital market capacity on Finance Act
In 2,998 deals, investors exchanged 150,973,185 shares valued at N1.554billion. Mutual Benefit, Pharma Deko, Transcorp, Fidelity Bank and Access Corporation were top-5 traded stocks on the Nigerian Exchange Limited.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation decreased from preceding day’s highs of 44,859.78 points and N24.433trillion respectively to 44,625.18 points and N24.306trillion.
The market’s positive return year-to-date (YtD) printed lower at +4.47 percent at the close of trading session on Thursday.
Get Newsletter Updates
Enjoying our column?
Subscribe to our specialised **Tax 360** feed to receive fresh reports and analyses directly in your inbox.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
