Nigeria’s stock market recorded its first negative close on Wednesday, decreasing by 0.36percent. The market’s major draggers are insurance, consumer goods, and banking stocks despite increased bargains in oil & gas stocks.
NGX Insurance Index decreased most by 3.42 percent, followed by NGX Consumer Goods Index (-0.86 percent), NGX Banking Index (-0.76 percent), while NGX Oil & Gas Index was up by 0.18 percent.
FCMB, Sterling, Cutix, Access Holdings, First Holdco were actively traded stocks. The negative close on Wednesday moderated market return this year to 37.23 percent. This month, the market has risen by 0.99 percent.