Equities market decreases slightly by 0.01%

Nigeria’s stock market decreased slightly on Thursday by 0.01 percent or N2billion, no thanks to Custodian Investment Plc which dipped most on the Bourse, from N7.90 to N7.15, down by 75kobo or 9.49percent.

It was followed by UACN Plc which dropped from N9.60 to N9.10, losing 50kobo or 5.21percent.

Also, NEM Insurance Plc made the top laggards list after dipping from N4.40 to N3.96, down by 44kobo or 10 percent.

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The Nigerian Exchange Limited (NGX) All Share Index (ASI) decreased to 44,604.74 points while the value of listed stocks decreased to N24.032trillion as against preceding trading day high of 44,608.82 points and N24.034trillion respectively.

The stock market’s positive return year-to-date (YtD) stood lower at 4.42 percent.

Transcorp Plc, Jaiz Bank Plc, Mutual Benefit, FBN Holdings Plc and GTCO Plc were actively traded stocks on the Bourse on Thursday.

In 4,565 deals, investors exchanged 321,753,226 units valued at N3.65billion.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. 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). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.