• Thursday, December 07, 2023
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Market down by 0.38% as investors take profit

Equities market moves further high by 0.07%

Nigeria’s equities market closed in the red zone on Thursday by 0.38 percent, its second this week, as investors profit-taking activities caused stocks to shed N140billion.

Stocks like Stanbic IBTC were on offer as investors in 5,453 deals exchanged 298,687,259 shares worth

Stanbic IBTC dipped most, from N76 to N69.55, losing N6.45 or 8.49 percent. It was followed by Champion Breweries which dropped from N3.71 to N3.41, down by 30 kobo or 8.09 percent and Ikeja Hotel which closed lower from N3.15 to N2.93, losing 22kobo or 6.98 percent.

Read also: Naira gains 6.77% despite liquidity drop at official market

UBA, Fidelity Bank, Access Corporation, Transcorp and Ellah Lakes were actively traded stocks.

At the close of equities trading session, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market Capitalisation dropped from preceding day’s highs of 67,353.25 points and N37.004trillion respectively to 67,098.8 points and N36.864trillion.

Except oil and gas index that closed flat, all other sectoral indexes were in red …led by banking, insurance and consumer goods.

The record negative close pushed down the return year-to-date (YtD) to 30.92 percent. This week, the market has decreased by 0.15 percent while it has risen by 1.08 percent this month.