Market drops further by 1.04% as bearish run persists on NGX

The bearish run in Nigeria’s equities market persisted on Thursday as the session ended lower by 1.04 percent or N313billion, the fourth consecutive decline this week.

Week-to-date (WtD), the market has decreased by 1.58 percent while this month, it has dropped by 1.60 percent.

At the close of trading session on Thursday, the Nigerian equities market year-to-date (YtD) positive return decreased further to +7.15percent.

Ecobank Transnational led the league of laggards after its share price decreased from preceding day high of N12 to N10.80, losing N1.20 or 10percent.

It was followed by that of IMG which dropped from a high of N 8.05 to N7.30, losing 75kobo or 9.32percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased further from preceding trading day’s 55,490.20 points and N30.228trillion respectively to
54,915.61 points and N29.915trillion.

Transnational Corporation, Zenith Bank, Sterling Bank, UBA and Access Corporation were top-5 traded stocks on Thursday as investors in
3,489 deals exchanged 137,286,570 shares valued at N1.509billion.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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