Nigeria stock market moderates loss, dips by 0.01%

Nigeria’s equities market continued (though on a slighter note) to see stronger sell side pressure, hence the negative (-0.01percent) close on Thursday September 9. Investors booked about N2billion additional loss.

This performance further defies investors expectations that some Tier-1 banking and small-cap names will help lift the market this week.

The market has decreased by 0.15percent week-to-date (WtD) while the negative return year-to-date (YtD) printed slightly higher at -2.66 percent.

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Market watchers expect the Nigerian Bourse to trade in same pattern on Friday, unless any significant gain in any of the large cap names.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s highs of 39,204.52 points and N20.426trillion to 39,201.33 points and N20.424trillion.

In 3,523 deals, investors exchanged 350,528,020 shares valued at N3.347billion. Cornerstone Insurance Plc led the league of laggards after its share price moved down from 52kobo to 48kobo, down by 4kobo or 7.69percent, while Chams Plc rallied most, from 21kobo to 22kobo, down by 1kobo or 4.76percent.

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