Investors record highest loss in Nigerian stock market

Investors on Thursday recorded N2.18 trillion in losses at the Nigerian stock market. 

DAILY POST reports that Thursday’s stock decline is the fourth time and highest so far this week.

Nigerian Exchange Limited Thursday’s trading data showed that market capitalisation declined by 1.41 per cent, falling from N154.445 trillion to N152.266 trillion, reflecting a loss of N2.179 trillion in the review period.

Similarly, the All-Share Index (ASI) dropped by 3,397.80 points or 1.41 per cent, closing at 237,404.92 compared to 240,802.72 recorded at the beginning of the downturn.

Consequently, the market’s Year-to-Date (YTD) return erased to 52.56 per cent, while the market breadth closed negative with 40 decliners against only 13 advancers.

On the losers table, Cadbury, Africa Prudential and Triple Gee led by 10 per cent each, finishing at N62.10, N11.70 and N3.60 per share, respectively. Followed by John Holt and McNichols. 

On the flipside, Legend Internet topped the gainers’ chart by 9.52 per cent, closing at N5.75; NPF Micro-finance Bank followed by 9.18 per cent, ending the session at N5.35, while Transcorp grew by 7.32 per cent, settling at N44 per share.

Market activity improved, with total traded volume rising by 4.33 per cent to 691.64 million shares valued at N116.85 billion in 50,025 transactions.

FirstHoldco led the volume chart with 115.84 million shares, accounting for 16.75 per cent of total transactions, while Dangote Cement topped the value chart with trades worth N83.39 billion, representing 71.37 per cent of the day’s turnover.

DAILY POST reports that investors at NGX have experienced losses in the last four days.