Nigeria’s equities market on Thursday recorded its first decline this month by 0.76 percent or N296billion.

At the close of trading on the Nigerian Exchange Limited (NGX), the stock market’s benchmark performance indicator which had crossed 70,000 mark to 70,581.76 points on Wednesday lowered to 70,042.28 points.

Investors sold stocks like FBN Holdings, Chams, International Breweries and RT Briscoe.

FBN Holdings topped the league of laggards after its share price lowered from N19.65 to N18.05, down by N1.60 or 8.14 percent.

Related News

Read also: Investors gain N1.71trn as stock market rises by 4.30% in October

Also, the stock market’s year-to-date (YtD) positive return stood lower at 36.67 percent. This week, the market has risen by 4.33 percent, while month-to-date (MtD) its up by 1.16 percent.

The equities market capitalisation dropped from preceding day’s high of N38.777 trillion to N38.481trillion.

Japaul Gold, Fidelity Bank, UBA, FCMB Group and Chams were actively traded stocks as investors in 8,396 deals exchanged
525,457,392 shares worth N6.088billion.

More from our Markets Column
Read Next
Naira holds weekly gain as dollar holders count losses

Naira gains as dollar falls to N1,140

By Hope Moses-Ashike • November 3, 2023

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. 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). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp