Market fails to sustain gain as Guinness leads laggards

Nigeria’s equities market on Thursday failed to sustain previous day’s gain, dipping by 0.09percent or N20billion.

Guinness Nigeria led the laggards after its share price moved down from N67.20 to N60.50, losing N6.70 or 9.97percent. United Capital followed after dipping from N12 to N11.30, shedding 70kobo or 5.83 percent.

The market’s negative close pushed lower its record return year-to-date (YtD) to +3.03percent.

The Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities Market Capitalisation decreased from preceding day’s highs of 44,050.44 points and N23.991trillion 44,011.22 points and N23.971trillion.

Read also: Zenith, MRS, GTCO, Lafarge cause market to see first gain this week

In 2,980 deals, investors exchanged 97,699,441 shares valued at N847.882million. Transcorp, Access Corporation, Sterling Bank, GTCO and NAHCO were top-5 traded stocks on the Nigerian Exchange Limited.