Stock market moves further south by 0.24%

Nigeria’s equities market continued its losing streak on Tuesday, dipping by 0.24 percent or N62 billion. Neimeth International Pharmaceuticals, Nigerian Breweries, Caverton, ETI, Union Bank and other stocks led the market to a negative close.

Neimeth decreased from N1.38 to N1.27, down by 11kobo or 7.97 percent. Nigerian Breweries also decreased, from N48.95 to N45.20, down by N3.75 or 7.66 percent.

Caverton dipped from 88kobo to 83kobo, down by 5kobo or 5.68 percent. Likewise, ETI decreased from N10.65 to N10.10, down by 55kobo or 5.16 percent. Union Bank dipped from N6.55 to N6.25, down by 30kobo or 4.58 percent.

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The equities market’s positive return year-to-date (YtD) decreased to +10.78percent. Despite the record decline, the market has increased by 7.95 percent in this November.

The Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation decreased from 47,436.45 points and N25.837 trillion respectively to 47,322.97 points and N25.775 trillion.

Transcorp, Access Corporation, Zenith Bank, FBN Holdings, and GTCO were the top-5 traded stocks on Tuesday. In 3,022 deals, investors exchanged 120,946,590 shares valued at N1.647 billion.