Market heads further south by 0.03% as BUA Cement tops laggards

Stock market records marginal gain, Naira stable at 900/$

Nigeria’s equities market moved further south on Thursday by 0.03percent as investors continued to sell down despite half year earnings season.

Investors lost about N7billion at the close of trading session on the Bourse. The record loss was driven majorly by counters like BUA Cement which decreased from preceding day high of N61 to N58.25, losing N2.75 or 4.51percent.

It was followed by Multiverse which dropped from a high of N1.90 to N1.71, losing 19kobo or 10percent.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s highs of 50,594.97 points and N27.283 trillion respectively to 50,582.30 points and N27.276trillion.

Also, the market’s positive return year-to-date (YtD) decreased to 18.41percent.
AIICO, Transcorp, Access Holdings, CHI and Japaul Gold were most traded stocks on the Nigerian Exchange Limited (NGX).

In 3,993 deals, investors exchanged 130,445,209 shares valued at N1.622billion.

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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