NGX: Equities Market Closes Bearish

Nigeria’s equities market closed on a bearish note on Wednesday, its first decline this week as investors took profit from recent rally which had pushed the market to 15-year high.

The market decreased by 0.08 percent or N28billion, pushing the year-to-date (YtD) postive return lower to 29.64 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding trading day’s highs of 66,490.34 points and N36.390trillion respectively to 66,439.56 points and N36.362trillion.

Transcorp, Access Corporation, Dangote Sugar, Jaiz Bank and Fidelity Bank were actively traded stocks as investors in 10,033 deals exchanged 637,193,765 shares worth N7.790billion.

Transcorp decreased most, from N7.01 to N6.31, losing 70kobo or 9.99 percent. It was followed by CWG which was down from N4.05 to N3.65, after losing 40kobo or 9.88 percent.

Business Day/Hauwa Abu