Nigeria’s equities market decreased by 0.35 percent or N193billion on Wednesday, recording it’s first negative close in this month of September.
Investors took profit in most of the market’s major advancers year-to-date (YtD) like Oando and RT Briscoe. Oando decreased most, from N91 to N81.90, down by N9.10 or 10 percent.
Read also: Stock market closes higher by 0.08%
The Initiates also decreased from N2.01 to N1.81, down 20kobo or 9.95 percent, while RTBriscoe moved down from N2.88 to N2.60, down by 28 kobo or 9.72 percent.
The market’s negative close came in line with analysts expectations that following earlier sessions of positive closes, it will see a mix of cautious trading and selective buying as market participants remain on the lookout for any signs of broader market interest.
“Keeping an eye on sector-specific movements and the ongoing tug-of-war between bulls and bears will be key to navigating the day’s trading opportunities,” said analysts at Lagos-based Vetiva Research.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from Tuesday’s 96,873.74 points and N55.646 trillion respectively to 96,537.48 points and N55.453 trillion.
Read also: Stock market turns south as investors sell Oando, Nascon, others
In 12,039 deals, investors exchanged 389,232,448 shares worth N8.179 billion. Oando, Universal Insurance, Transcorp, FTN Cocoa and GTCO were actively traded stocks on Wednesday.
