• Monday, July 22, 2024
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Stock market falls further by 0.04%

Stock market opens week with N83bn loss

The Nigerian Stock Exchange (NSE) benchmark performance indicator – the All Share Index (ASI) decreased further by 0.04 percent on Wednesday December 9.

Stock investors booked about about N6billion loss as buy-side activities declined. The record negative close pushed down the year-to-date (YtD) positive returns to +30.47percent.

The All Share Exchange decreased from preceding day high of 35,033.74 points to 35,021.26 points while the value of listed equities on the bourse stood lower at N18.304trillion as against preceding trading day high of N18.310trillion.

Ardova Plc topped the losers league after its share price moved from N14.45 to N13.2, down by N1.25 or 8.65 percent. Fidson Healthcare also went down from N4.88 to N4.5, losing 38kobo or 7.79 percent.

Read Also: Nigeria’s stock market rises by 0.72% in one week

Neimeth made the top laggards list after the stock price moved from preceding day high of N2.53 to N2.4, losing 13kobo or 5.14percent. Julius Berger followed after declining from N18.5 to N18.4, down by 10kobo or 0.54 percent.

In 3,855 deals, stock investors exchanged 283,090,838 units valued at N3.420billion. FBNHoldings, GTBank, AIICO, Zenith Bank and Mutual Benefit were actively traded stocks on Wednesday.

While the market failed to reverse its negative close, analysts believe it will continue the sideways trading pattern as investors position lower to improve their yield amid some foreign sellers continuing to take profit.