Follow Us on Google
By Chinwendu Obienyi
Following investors’ cautious approach to stocks trading on the floor of the Nigerian Exchange Limited (NGX), proceedings reversed from the previous gain on Wednesday to end the business day in red yesterday.
The market had suffered declines in Monday and Tuesday’s proceedings, dropping 0.02 and 0.2 per cent respectively. However, Wednesday’s session saw the market turned in a bullish performance as the All Share Index (ASI) rose by 0.05 per cent.
But the bears regained dominance on Thursday’s trading session as some prices of shares remained unchanged while others like Caverton, Cornerstone, Lasaco, Niger Insurance, Nigerian Breweries and 11 others recorded losses.
Specifically, the ASI closed by 0.02 per cent to close at 47,353.22 points while market capitalization fell by N6 billion to close at N25.520 trillion from N25.526 trillion.
According to the market report of the NGX, the value of 17 stocks depreciated while 16 others appreciated.
Niger Insurance led the laggards with 9.09 per cent to close at 0.20 kobo per share. Cornerstone fell by 6.45 per cent to close at 0.58 kobo, Veritas capital followed with 4.55 per cent to close at 0.21 kobo, Seplat dropped 3.13 per cent to close at N930 while Lasaco lost 2.80 per cent to close at N1.50.
