Nigeria’s equities market continues its downward trajectory

Nigeria’s equities market continued its downward trajectory on Wednesday September 22 amid scarcity of positive catalysts capable of spurring buy-side activity.

At the close of bearish trading session, investors in listed equities on the Bourse booked further loss of about N11billion. The market closed in red as the benchmark indicators printed at a negative of 0.05percent, pushing the year-to-date (YtD) negative return further high at – 3.52percent.

Veritas Kapital Assurance Plc led the league of top decliners after its share price moved from preceding day high of 23kobo to 21kobo, shedding 2kobo or 8.70percent as against Transcorp Hotels Plc which led the top advancers after its share price moved up by 45kobo or 10percent, from N4.50 to N4.95.

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Also, United Capital Plc made the top laggards league after decreasing from N9 to N8.55, down by 45kobo or 5percent. Chams Plc shares price dropped from 22kobo to 21kobo, losing 1kobo or 4.55percent of its day-open price.

In the same vein, Access Bank Plc share price decreased from N8.90 to N8.60, losing 30kobo or 3.37percent, while Japaul Gold Plc dropped by 1kobo or 2.13percent, from 47kobo to 46kobo.

The Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation decreased further from preceding trading day’s highs of 38,873.85 points and N20.253trillion respectively to 38,852.69 points and N20.242trillion.

Universal Insurance Plc, UBA Plc, Zenith Bank Plc, GTCO Plc, and United Capital Plc were actively traded stocks on Wednesday. In 3,256 deals, investors exchanged 155,773,059 units valued at N1.510billion.