Nigeria bourse records 0.02% growth on Wednesday

Trading transactions on the Nigerian Stock Exchange ended on a cautious note on Wednesday with the All-Share Index increasing marginally by 0.02 per cent.

The index rose by 9.92 points or 0.02 per cent to close at 42,158.32 compared with 42,148.40 achieved on Tuesday due to marginal price growth by blue chips.

Also, market capitalisation which opened at N15.125 trillion grew by N4 billion or 0.03 per cent to close at N15.129 trillion.

GTB recorded the highest price gain to lead the gainers’ table with 75k to close at N48 per share.

Market analysts attributed the mixed performance being experienced in the market to investors’ adjustment to over 15 per cent growth posted in January as the market for over 10 years never witnessed a growth in January the 2018 January performance was historic.

Investors are also said t be reactions to recent Central Bank of Nigeria (CBN) directive that banks with over 10 per cent non-performing loans should not pay dividends contributed to the development.