Oando, RT Briscoe, FTN Cocoa push NGX-ASI further south by 0.34%

Thursday’s trading session on the Nigerian Exchange Limited (NGX) closed in the red zone as investors expectedly continued their cautious sentiment amid dearth of positive triggers.

Oando, RT Briscoe, FTN Cocoa were mostly on offer while stocks like Berger Paints and Meyer were majorly on bid.

RT Briscoe decreased from N2.60 to N2.34, down by 26 kobo or 10 percent, FTN Cocoa dropped from N1.53 to N1.38, losing 15kobo or 9.80 percent, while Oando moved from a high of N81.90 to N74, losing N7.90 or 9.65 percent.

Stock investors lost about N188billion as the market decreased by 0.34 percent, pushing the year-to-date (YtD) return lower to +28.67 percent.

Despite positive start to the new month, Nigeria’s equities market has decreased consecutively for two days as the bears continued to pressure the Lagos Bourse. Week-to-date (WtD) the NGX All-Share Index (ASI) has decreased by 0.38 percent.

As more investors route for higher yields on fixed income instruments, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from further from Wednesday’s highs of 96,537.48 points and N55.453 trillion to 96,210.2 points and N55.265 trillion.

In 9,897 deals, investors exchanged 388,616,945 shares worth N9.565billion. Zenith Bank, Oando, GTCO, FTN Cocoa and UBA shares were actively traded on Thursday.