• Tuesday, July 16, 2024
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Market moves further south as Cadbury, others drive N19bn loss

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

Nigeria’s equities market closed further in the red zone on Tuesday August 30 as investors remained cautious about stocks following rising yield environment. The market decreased by 0.07percent while investors lost about N19billion at the close of trading session.

Mutual Benefits, Fidelity Bank, Access Holdings, FBN Holdings and MTNN were top-5 traded stocks as investors in 4,145 deals exchanged 125,949,809 shares valued at N3.073billion.

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Topmost on the laggards list are stocks like Cadbury Nigeria Plc which lost 40kobo or 2.99percent, from day-open high of N13.40 to N13. It was followed by NAHCO which dropped from N5.92 to N5.70, down by 22kobo or 3.72percent; and FCMB Group which decreased from N3.20 to N3.07, losing 13kobo or 4.06percent.

The market’s All-Share Index (ASI) and capitalisation decreased from preceding trading day’s 49,676.75 points and N26.794trillion to 49,642.69 points and N26.775trillion. The stock market’s year-to-date (Ytd) positive return moved further down to 16.21percent.