• Monday, July 22, 2024
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BusinessDay

Nigeria’s stocks move further south

ock Nigeria’s stock market decreases further by 0.25 percent on Thursday, pushing the record positive return down to 23.70 percent.

At the close of trading session on Thursday June 2, the stock market’s performance indicators – All Share Index (ASI) and capitalisation came down to 52,840.14 points and N28.490trillion respectively, from preceding day high of 52,974.15 points and N28.558trillion.

The market’s weak performance was driven by losses in Airtel Africa (-0.06percent), Zenith Bank (-1.92percent), GTCO (-0.22percent) and FBN Holdings (-2.20percent).

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Thursday’s market activities showed trade turnover settled higher relative to Wednesday’s session, with the value of transactions advancing by 12.20percent. Investors exchanged 274.43 million shares valued at N4.03billion in 5,011 deals.

“We are likely to see similar trade pattern filter into Friday’s session amid slight improvement in sectoral performance given the negative activities that has been recorded across board,” said analysts at Vetiva Securities.