The Chartered Institute of Stockbrokers have urged investors on the Nigerian capital market to take advantage of the low prices of shares for future gains.

The President, CIS, Mr. Ariyo Olushekun, who stated this at a briefing in Lagos on Thursday, noted that the market was ripe for investing.

He said that it was obvious that activities had begun to stabilise in the market, adding that this was the perfect opportunity for investors to stake their funds in the market.

“This is the right time for investors to take part in the equities market, with the prices of shares at their lowest levels. We at the CIS are confident that as from now, the market would begin to stabilise and investors would begin to record significant appreciation on their investments,” he stated.

Meanwhile, equity trading on the Nigerian Stock Exchange closed negative for the first time this week, with indicators closing lower.

Specifically, the market capitalisation of the listed equities fell by N15bn or 0.2 per cent to close at N6.784tn down from N6.799tn recorded the previous day.

Similarly, the NSE’s All-Share Index was down by 46.72 or 0.2 per cent to 21,251.91 basis points from 21,251.91 points recorded the preceding day.

The NSE-30 Index fell from 969,15 points on Wednesday, to 967.74 basis points, while the Consumer Goods Index fell to 1,718.11 points, from 1,178.72 points the day before.

The NSE Banking Index also dropped by 2.18 basis points or 0.7 per cent from 300.61 points on Wednesday, to 298.43 points.

At the close of activities, a total of 24 stocks recorded price appreciation, while 23 stocks recorded losses.

Conoil Plc lost the highest for the day, shedding five per cent or N1.20 to close at N22.80 per share.

Total Nigeria Plc fell by five per cent or N6.60 to close at N125.41 per share.

HIS Plc and Goldlink Insurance Plc also lost 4.9 per cent and 4.7 per cent to close at N2.13 and 61 kobo per share in that order.

On the other hand, Neimeth International Pharmaceutical Company Plc recorded the highest gain of the day, rising by 4.9 per cent or four kobo to close at 85 kobo per share.

National Salt Company Plc and Vitafoam Plc also gained 4.9 per cent and 4.8 per cent to close at N4.50 and N3.29 per share in that order.

Source: Punch/Udeme Ekwere