• Sunday, December 03, 2023
businessday logo


Nigeria’s equities market erases previous day’s gain

Stock investors lose N293bn as sell pressure persists on NGX

In line with some analysts’ views, Nigeria’s equities market on Tuesday turned negative, thereby almost erasing record week-open gains.

Industrial and Insurance stocks which were on offer led the market to negative close on Tuesday March 30, while Banking and Consumer goods counters recored improved bargains.

The All Share Index (ASI) and market capitalisation moved down from Monday’s highs of 39,493.37 points and N20.663trillion to 39,267.11 points and N20.544trillion respectively.

Read Also: Security votes remain secret in Nigeria as insecurity worsens

The market has risen insignificantly by 0.13percent this week-to-date (WtD). This year, the market’s negative return has stood at -2.49percent.

In 4,394 deals, stock investors exchanged 336,125,706 units valued at N3.268billion. Union Bank, Courteville, GTBank, Zenith and Transcorp were most traded stocks.

The value of listed equities on the Nigerian Exchange (NGX) Limited decreased by N119billion, while the benchmark performance indicator of the Bourse dipped by 0.57percent.