Stock market routes south by 0.25% as mixed sentiment persists

Stock market opens week on a negative note as mixed sentiment persists

Nigeria’s equities market decreased by 0.25 percent on Thursday as mixed sentiment persists on the Nigerian Bourse in line with analysts earlier expectations.

Stocks like Conoil and BUA Cement led the league of major laggards on Thursday that drove the market southwards.

Conoil decreased from N260 to N244, losing N16 or 6.15 percent, while BUA Cement share price dropped from N97.80 to N92, losing N5.80 or 5.93 percent.

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 97,477.81 points and N59.071 trillion respectively to 97,233.07 points and N58.918trillion.

In 7,931 deals, investors exchanged 291,534,428 shares worth N7.816 billion. Access Holdings, UBA, Zenith Bank, Oando and United Capital were actively traded stocks.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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