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Nigeria equities market decreases further as investors’ sentiment remains low

The negative return seen this year at the Nigerian stock market increased to -2.65 percent on Wednesday September 8 as investors chose to remain on the sell side of the bourse.

The market defies expectations that half-year corporate earnings and interim dividend proposals in the Tier-1 banking space will fuel positive sentiments in the market. Rather, investors are consolidating their cautious stance in the broader market.

The market’s negative return widened amid 0.12 percent dip recorded at the close of trading session on Wednesday. Investors lost about N24billion at the close of trading.

Read also: Nigeria’s Domestic Investors Control 78.5% of half year equities deals

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s highs of 39,251.29 points and N20.450trillion to 39,204.52 points and N20.426trillion.

SCOA led the laggards after its share price moved down from N1.44 to N1.30, down by 14kobo or 9.72percent, while Recency Alliance increased most, from 47kobo to 51kobo, up by 4kobo or 8.51percent.

FBN Holdings Plc, Access Bank Plc, Universal Insurance Plc, GTCo Plc and Transcorp Plc were most traded stocks Wednesday on the NGX Limited. In 4,095 deals, investors exchanged 354,061,015 units valued at
N3.202billion.

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