Stock market records first dip this week

Nigeria’s equities market on Thursday recorded its first negative close this week as some investors chose to take profit after three consecutive days of stocks rally.

The market decreased by 0.18 percent on Thursday. This week, it has risen by 0.34 percent, while month-to-date (MtD), the market has advanced by 0.41 percent, pushing the year-to-date (YtD) return to +31.13 percent.

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At the close of trading on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding day’s highs of 98,227.50 points and N59.533trillion respectively to 97,992.55 points and N59.391trillion.

Stocks like FBN Holding, Tantalizer, Lafarge, Fidelity Bank and Zenith Bank were actively traded as investors in 10,659 deals exchanged 467,675,629 shares worth N9.590billion.

University Press decreased most, from N3.85 to N3.50, losing 35kobo or 9.09percent. It was followed by Japaul Gold which dropped from N2.30 to N2.11, losing 19kobo or 8.26 percent, and Coronation Insurance which decreased from N1.12 to N1.01, losing 11kobo or 9.82 percent.