Nigeria’s equities market moves further south by 0.36%

Nigeria’s equities market closed further in the red zone on Thursday, November 11, down by 0.36percent as investors continued their profit-taking actions on the Nigerian Exchange Limited (NGX).

Only ten (10) stocks gained as against 18 losers led by Cornerstone, Cutix, Regency Alliance, Etranzact and Lasaco. Cumulatively, investors booked about N83billion loss at the close of the trading session on Thursday.

The NGX All Share Index (ASI) and Market Capitalisation decreased from Wednesday’s highs of 43,707.3 points and N22.809trillion respectively to 43,549.28 points and N22.726trillion. The stock market’s year-to-date (ytd) positive return decreased to +8.14 percent.

Read also: Nigeria’s equities market closes week to Nov. 5 in red

Cornerstone moved from preceding day high of 57kobo to 52kobo, down by 5kobo or 8.77percent. It was followed by Cutix which dropped from N6.20 to N5.70, losing 50kobo or 8.06percent of its day-open price.

Also, Regency Alliance Insurance decreased from 41kobo to 38kobo, down by 3kobo or 7.32 percent. Etranzact decreased from N2.05 to N1.90 losing 15kobo or 7.32percent, while Lasaco was also down, from N1.12 to N1.06, shedding 6kobo or 5.36 percent.

In 3,574 deals, investors exchanged 161,307,800 units valued at N2.139billion. FBN Holdings, Transcorp Plc, Zenith Bank Plc, Access Bank Plc and Sterling Bank Plc were most traded stocks on Thursday.