The Nigerian Exchange (NGX) closed negative on Thursday with key Index depreciating by 0.4 percent as profit-taking continued.
The market capitalization of listed equities dropped further by N82.46 billion to close at N22. 726 trillion, showing a 0.4 percent decrease compared to the N22, 809 trillion of the previous day.
Consequently, the major market indicator, the All-Share Index dipped by 158.02 points, representing a 0.4 percent decrease to close at 43,549.28 points lower than the 43,707.30 points recorded on Wednesday.
Despite the drop in the equities market, analysts are expecting positive results as investors gradually wrap up business activities for 2021.
The Head, Capital Market Interstate Securities Ltd, Gbenga Ogunrinola, said the market will see more stability ahead of the next financial year.
As regards volume of trade, 161, 397.800 million units of shares exchanged hands in 3,574 deals.
At the end of the day’s trading, the market sentiment, as measured by market, was negative: 12 equities emerged on the gainers’ list as against 19 losers.
On price gain movement, Unity Bank Plc led the chart with a price gain of N0.04k to close at N0.58k. FTN Coca Processors Plc followed with a price gain of N0.02k to close at N0.42k, while Universal Insurance Plc gained N0.01k to close at N0.22k.
On the flipside, CORNERST led the losers’ chart with a loss of N0.05k to close at N0.52k. CUTIX followed with a closing price of N5.70k after losing N0.50k, while ENTRANZACT lost N0.15k to close at N1.90k.
