Home Business Nigerian equity market extends downtrend to three consecutive days

Nigerian equity market extends downtrend to three consecutive days

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L-R: Haruna Jalo-Waziri, Managing Director/CEO, Central Securities Clearing System (CSCS) Plc; Yemisi Salisu; Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Governor Olugboyega Oyetola of Osun State;, Deputy Governor of the State, Benedict Olugboyega Alabi; Kamarudeen Kareem Oladosu, National Council Member, NSE during a Closing Gong Ceremony to discuss key areas of collaboration with NSE and to dialogue with the capital market community on areas of support to finance projects and invest in Osun State in Lagos on Thursday.

The Nigeria equity market declined further by 0.14 per cent on Thursday due to losses recorded in large and medium capitalized stocks.
The All Share Index (ASI) shrank by 35.42 absolute points, representing 0.14 per cent dip to close at 26,223.66 points.
Also, the Market Capitalization was down by N17.25 billion, representing 0.14 per cent decline, to close at N12.75 trillion.
Honeywell Flours which shed -8.16 per cent; Chi Plc -4.88 per cent; Dangote Sugar -3.86 per cent; Stanbic IBTC -2.12 per cent and Zenith Bank -2.02 per cent were largely responsible for the market suffered on Thursday.
Regalins gained 5.00 per cent to top eight other advancers, Unilever lost 9.98 per cent to emerge the highest loser among 15 others.
Volume of equities investors traded increased by 212.72 per cent from 232.216 million to 726.190 million, while the total value of stock traded decreased by 4.91 per cent from ₦3.121 billion to ₦2.968 billion in 3,040 deals.