Markets

Nigerian equity market extends downtrend, dips by 0.25%

The Nigerian equity market extended its downtrend further by 0.15% or 63.93 basis points to close at 43,285.97 points on Thursday, compared to 43,349.90 points on Wednesday.

The market capitalisation also shed N73 billion to end the day’s trading at N22, 589 trillion as against N22, 662 trillion the previous day.

Investors traded a total of 210.54 million shares with a market value of N2.61 billion in 3,423 deals just as the Market closed with 12 gainers and 23 losers.

E-tranzact International led the gainers with N0.19k gain to close at N2.09k, followed by Vitafoam Nigeria with N1.90k to close N20.90k and Academy Press gained N0.03k to close at N0.36k.

Top on the losers list for the day was Chams with a price depreciation of N0.02k to close at N0.21k.Next was Regency Alliance Insurance Company with a loss of N0.03k to close at N0.37k then Unity Bank which lost N0.04k to close at N0.50k.

Sterling bank was the toast of investors on Thursday as it had the highest volume of traded shares of 60.2 million and it was followed by E-Tranzact with 14.1 million shares. (VON)

Felix Oloyede

Felix Oloyede is a Mass Communication graduate with 19 years experience in journalism. He has worked with TheWeek Magazine; Mirror Newspapers; West Africa BusinessNews and BusinessHallmark Newspaper. Oloyede has covered different news beats ranging from crime; arts; politics; commerce and industries to finance and economy. He is an alumnus of Bloomberg Media Initiative Africa. He has also attended different trainings on Media Communication at the Lagos Business School. He is an alumnus of Bloomberg Media Initiative Africa. He has also attended different trainings on Media Communication at the Lagos Business School.

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