Nigeria’s equities market on Thursday failed to sustain previous day’s gain, despite earlier expectations of continuing cherry picking activities.

Investors lost about N33billion at the close of trading session on Thursday. Month-to-date (MtD), the market has decreased by 0.71 percent, while week-to-date (WtD) it has dropped by 1.40 percent.

The market rerouted south by 0.12 percent, driven among others by topmost laggard like Stanbic IBTC Holdings which dropped from a high of N29 to N28.05, losing 95kobo or 3.28percent.

Read also: Market loses N4bn as stock investors ignore advantage of price dip

Related News

It was followed by UBA which dropped from a high of N7.20 to N7, shedding 20kobo or 2.78percent, while Caverton Offshore Support Group also made the top laggards list after its share price dipped from day open high of N1.05 to N1.02, shedding 3kobo or 2.86percent.

At the close of trading session, investors in 4,292 deals exchanged 133,591,047 shares valued at N2.437billion. UBA, Chams, Access Holdings, Japaul Gold and Jaiz Bank were top-5 traded stocks on the Bourse.

The stock market’s record positive return year-to-date (YtD) decreased to 17.09percent. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding day highs of 50,075.47 points and N27.009trillion respectively to 50,014.6 points and N26.976trillion.

More from our Markets Column
Read Next
NGX-ASI crosses 121,000 points as week opens

Stock investors lose over N570bn in sell-pressured week

By Iheanyi Nwachukwu • August 12, 2022

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.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp