As violence and shootings trail agitation against Nigeria police brutality, investors on Wednesday began repricing equities risks, leading to a negative close of the trading session on the Bourse.
With the turmoil going on and the uncertainties of the direction of the civil unrest, analysts expect a number of investors to stay on the sideline as a more cautious trading strategy is adopted.
The stock market’s benchmark performance indicator – the NSE All-Share Index (ASI) – decreased by 0.75percent on Wednesday to 28,449.49 points as against 28,665.82 points recorded the preceding trading day.
The nation’s equities market trading data for Wednesday, October 21 showed the equities market’s positive return year-to-date (YTD) stood at +5.99 percent.
READ ALSO: Nigeria stocks post biggest loss in 10 days
Also, the value of listed stocks on the NSE decreased by N113billion to N14.870trillion, from
N14.983trllion recorded the preceding trading day.
The share price of leading telecom, MTNN Plc, decreased most on the Nigerian Stock Exchange (NSE) from N140 to N138, dipping by N2 or 1.43 percent.
It was followed by that of Guinness Nigeria Plc which moved from a preceding day high of N17 to
N16, losing N1 or 5.88 percent; and Lafarge Africa Plc which dropped from N18.1 to N17.3, down by 80kobo or 4.42 percent.
UBA Plc, Zenith Bank Plc, GTBank Plc, Transcorp Plc and FBN Holdings Plc were actively traded stocks on Wednesday. In 4,367 deals, stock investors exchanged 326,577,644 units valued at N4.224billion.
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