Equities market dips further with N9.39bn loss

The Nigerian stocks market continued on a southward march as investors kept a cautious hand on trading on Thursday at -0.10 per cent.

Specifically, the Nigerian Stock Exchange All Share Index (NSE ASI) closed at 28,703.09 basis points as against 28,730.40bp recorded at the beginning of trading. With the 0.10 decline, Year-to-Date (YTD) returns stands at +0.21 per cent.

Market capitalisation also lost N9.39 billion as N9.86 trillion was recorded at the end of trading activities as against N9.87 trillion.

Market breadth closed negative as United Capital Plc led 16 gainers against 23 losers topped by Skye Bank Plc at the end of today’s session, an improved performance when compared with Wednesday outlook of 15 gainers and 25 losers.

Market turnover however closed positive as volume moved up by seven per cent against 8.30 per cent decline recorded in the previous session, as First Bank of Nigeria Holdings Plc, Zenith Bank Plc and Transnational Corporation of Nigeria Plc played the most active role to boost market turnover, Dangote Cement Plc and Zenith Bank Plc, top market value list.

On Thursday, Conoil Plc led the list of active stocks that recorded impressive volume spike at the end of trading as it staked 785,726 shares in 43 deals.

At the end of stock trading for the day, investors traded 203.6 million shares worth N2.5 billion in deals in contrast with 190 million shares worth N2.3 billion that exchanged hands in 4,578 deals on Wednesday.