May & Baker, Chellaram, Linkage Assurance, others dip NGX-ASI by 0.40 %

Nigeria’s equities market decreased by 0.40 percent on Thursday as investors sold mostly the shares of May & Baker, Chellaram, Linkage Assurance and MCNichols, among other major laggards.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased to 109,183.02 points and N68.621 trillion respectively as against preceding day’s highs of 109,619.1 points and N68. 895 trillion.

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In 26,176 deals, investors exchanged 1,646,952,901 shares worth N19.098 billion. Royal Exchange, Fidelity Bank, Japaul Gold, UBA, and Tantalizers were actively traded stocks.

May & Baker decreased from preceding day’s high of N13.05 to N11.75, down by N1.30 or 9.96 percent. Also, Chellaram decreased from N13.05 to N11.75, losing N1.30 or 9.96 percent.

Linkage Assurance dropped from N1.62 to N1.46, down by 16 kobo or 9.88 percent, while MCNichols dipped from N2.30 to N2.10, down by 20 kobo or 8.70 percent.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.