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Equities market closes further south



In the absence of positive activity in large cap names, the Nigerian equities market on Thursday saw another bearish close, dipping by 0.12percent as the Monetary Policy Rate (MPR) hike further dampens sentiments in the stock market. International Breweries led the losers league after its share price decreased from N5.45 to N4.95, down 50kobo or 9.17percent.

The nation’s equities market’s performance indicators – the All-Share Index (ASI) and Market Capitalisation – decreased further from preceding trading day’s highs of 52,186.52 points and N28.142trillion respectively to 52,122 points and N28.107trillion. Investors lost about N35billion.

Read also: CBN clarifies stand on conversion of naira to dollar for electioneering

Caverton also decreased from N1.25 to N1.14, down by 11kobo or 8.80percent. RTBriscoe was also on the league of top laggards after decreasing from 48 kobo to 44kobo, down by 4kobo or 8.33percent. Chams dropped from 27kobo to 25kobo, down by 2kobo or 7.41percent, while LASACO dipped from N1.09 to N1.01, down by 8kobo or 7.34percent.

The market’s positive return year-to-date (YtD) printed further lower at +22.02 percent. In 3,447 deals, investors exchanged 151,942,487 units valued at N2.157billion.



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