Stock market records first negative close this week

Nigeria’s equities market decreased by 0.04 percent on Wednesday, its first negative close this week as second quarter (Q2) financials trickle in at the Bourse and investors react to the corporate earnings.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation decreased from preceding day’s highs of
100,075.59 points and N56.670 trillion respectively to 100,032.32 points and N56.645 trillion.

Jaiz Bank, Cutix, Zenith Bank, Universal Insurance and FCMB Group were actively traded stocks as investors in 8,720 deals exchanged 1,099,300,929 shares worth N10.076billion.

Read also: Stock market rises further by 0.11%

Stocks like RT Briscoe, FTN Cocoa, Tantalizer, Neimeth and Consolidated Hallmark Holdings mostly occupied the sell-side of the Nigerian Bourse on Wednesday.

RT Briscoe decreased from 70kobo to 66kobo losing 4kobo or 5.71 percent. FTN Cocoa dropped from N1.80 to N1.72, shedding 8kobo or 4.44 percent.

Tantalizer also dropped from 47 kobo to 45 kobo losing 2 kobo or 4.26 percent.

Neimeth dipped from N1.70 to N1.64, down by 6kobo or 3.53 percent while Consolidated Hallmark Holdings decreased from N1.45 to N1.40, losing 5kobo or 3.45 percent of its day-open value.

The market’s positive return year-to-date (YtD) decreased to 33.78 percent, this month it has decreased marginally by 0.03 percent. This week, the market has increased by 0.36 percent.