Nigeria’s stock market neither went up nor down on Thursday, October 15 as local and foreign investors continued to weigh the risks of holding the naira asset amid ongoing protests against police brutality. This week, the market has decreased by 0.25 percent.
The domestic market maintained the preceding day’s performance, trading sideways, and eventually closing unchanged. Most equity analysts had expected this recorded pattern, while savvy investors continue to look for attractive entry points.
The market’s positive year-to-date (YtD) return remains at +5.60 percent.
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) remained at 28,344.04 points while the value of listed stocks stayed at N14.814billion.
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UBA Plc, Zenith Bank Plc, GTBank Plc, Transcorp Plc, and FBN Holdings Plc were actively traded stocks on the Bourse. In 4,048 deals investors exchanged 342,193,352 units valued at N5.039billion.
Lafarge Africa Plc led the gainers’ table after its share price moved from N17.35 to N18.05, adding 70kobo while GTBank Plc dipped most from N30 to N29.5 after losing 50kobo or 1.67 percent.
Despite the recent muted activities on Custom Street, analysts believe the current price levels remain good for mid/large-cap investors while short term players are advised to trade cautiously.
