• Friday, June 14, 2024
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Stock market drops further by 0.03%

Nigerian companies eye more debt in 2022

Nigeria’s equities market continued its losing streak on Thursday, December 23, declining by 0.03percent at the close of the trading session on the Nigerian Exchange Limited (NGX). Investors lost about N7billion.

Julius Berger Nigeria Plc led the losers league after dipping from a day-open high of N24.80 to N22.35, down by N2.45 or 9.88percent, while FBN Holdings Plc followed after its share price moved from the preceding day high of N12 to N11.70, down by 30kobo or 2.50percent.

Looking ahead to the rest of the week, United Capital research analysts said they expect some bargain hunting considering the net selloffs over the previous trading days. However, they maintain that the market will remain in a lull, barring significant positive triggers.

Read also: Union Bank divests 89.39% stake to Titian Trust Bank

UACN, Jaiz Bank, GTCO, Unity Bank and Sovereign Trust Insurance were most traded stocks on the Bourse. In 2,815 deals, equity dealers exchanged 211,089,688 units valued at N2.464billion.

Week-to-Date (WtD), the market has decreased by 0.29percent while month-to-date (MtD) it has increased by 0.46percent. The stock market’s positive return year-to-date (YtD) printed lower on Wednesday to 4.87percent.

The Nigerian Exchange Limited (NGX) benchmark performance indicators – All Share Index (ASI) and Market Capitalisation – decreased from preceding day high of 42,244.22 points and N22.050trillion respectively to 42,230.48 points and N22.043trillion.