Business

Market sees another negative close as investors lose N5bn



In the absence of any major positive catalyst, the Nigerian equities market expectedly saw another bearish trading session on Wednesday, September 7.

The market’s benchmark performance index dropped by 0.02percent while its year-to-date (YtD) positive return was down to 16.20percent.

Investors lost about N5billion on Wednesday as Fidelity Bank Plc led the decliners league after its share price moved down from N3.46 to N3.45, shedding 1kobo or 29percent. On the advancers list, NEM Insurance topped other stocks after its share price rose from N5.16 to N5.60, up by 44kobo or 8.53percent.

Read also: Lafarge, NGX Group top laggards as market opens week on negative note

The market’s All-Share Index (ASI) and capitalisation decreased further from preceding day’s highs of 49,644.92 points and N26.777trillion respectively to 49,635.76 points and N26.772trillion.

In 3,426 deals, equity traders exchanged 128,941,044 shares valued at N1.668billion. Mutual Benefit, Zenith, GTCO, NEM and Fidelity Bank were top-5 traded stocks.



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