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Nigeria’s equities market moves further south by 0.03%

As investors await earnings releases from the large-cap stocks on the Nigerian Exchange, the market failed to gain traction on Wednesday, July 28, dipping slightly by 0.03percent.

The muted buy-side activity on the Bourse came as investors continued to evaluate among others, the likely implications of the Monetary Policy Committee (MPC) ‘hold’ decision on key parameters as well as the CBN’s halt of dollar sales to money changers (BDCs).

At the close of trading on Wednesday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased further by 0.03percent or N6billion, from day open highs of 38,802.15 points and N20.216trillion respectively to 38,791.03 points and N20.210trillion.

Read also: See where analysts say Nigerian equities market could head in H2?

The equities market’s negative return seen year-to-date (YtD) increased slightly to -3.67percent.

Eterna Plc share price decreased most, from N7.60 to N7.10, down by 50kobo or 6.58percent, while the share price of BOC Gas Plc increased most, from N8.45 to N9.20, up by 75kobo or 8.88percent.

Oando Plc, UBA Plc, Wema Bank Plc, Access Bank Plc and Jaiz Bank Plc were most traded stocks on the Nigerian Exchange Limited. In 4,305 deals, investors exchanged 237,510,446 units valued at N1.882billion.

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