Nigeria’s stock market closed relatively flat on Tuesday, September 7 as investors continued the search for information to activate buy-side activities on the Bourse.
Though listed stocks value decreased by just N1 billion, the market’s benchmark performance index stood relatively flat (0.00percent). The negative returns this year stood at -2.53percent.
United Capital Plc the league of advancers after its share price increased from N7.50 to N8.10, up by 60kobo or 8percent; while Cornerstone Insurance recorded the highest dip, from 57kobo to 52kobo, down by 5kobo or 8.77percent.
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The equities market closed comparatively flat despite analysts’ expectations that investors will cherry-pick attractive counters across board, particularly small-to-large cap names in the banking space.
FBN Holdings, Access Bank, Universal Insurance, UBA and Zenith Bank were actively traded stocks on the Nigerian Exchange Limited (NGX). In 4,241 deals, investors exchanged 355,935,654 units valued at N2.871billion.
The NGX All-Share Index and Market Capitalisation decreased from preceding trading day’s highs of 39,252.98 points and N20.451trillion respectively to 39,251.29 points and N20.450trillion at the close of trading on Tuesday.
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