• Wednesday, July 17, 2024
businessday logo

BusinessDay

Stock market closes flat

Foreign investors move N267.5bn from stock market in five months

For the first times in weeks, Nigeria’s equities market closed flat on Thursday following investors wait-and-see mood in market.

Stocks like FBN Holdings, Fidelity Bank, Transcorp, Access Holdings and AIICO were actively traded on the Nigerian Exchange Limited (NGX) as investors in 8,364 deals exchanged 1,299,961,984 shares worth N25.326billion.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation which stood at 99,842.19 points and N56.478trillion the preceding trading day cloaed Thursday at 99,842.94 points and N56.479trillion.

Read also: Stock market opens week on a negative note

This flat close came despite rally in stocks like Champion Breweries and Chams while Transcorp Hotels Plc, NEM Insurance and Fidelity Bank topped the laggards league.

“We anticipate a mixed trading session with potential buy-side pressure in key names that could steer the market to a green close. “Investors are expected to monitor movements in high-performing stocks as well,” said Lagos-based Vetiva Research analysts in their post trading note.