Market cap down by -0.10% as investors lose confidence in Nigeria’s capital market

For the second consecutive day, sell-off by investors was the main activity on the trading floor of the Nigerian capital market on Thursday.

The development pushed down the equity capitalization by -0.10 percent to close at N27.68 trillion after eight hours of trading on Thursday.

The figure was N28.04 billion lower than the N27.71 trillion posted by the stock market on Wednesday.

Similarly, the All-Share Index was down by 51.24 basis points to close at 51,339.01 as against 51,390.25 reported the previous day.

Investors traded 115.41 million shares valued at N1.20 billion 3,731 deals on Thursday.

This fell short of 198.81 million shares worth N2.18 billion which exchanged hands in 4,769 deals on Wednesday.

Academy led the gainers with N0.18kobo to rise from N2.07 to N2.25kobo per share.

Regal Insurance’s share rose by 8 percent to move from N0.25kobo to N0.27kobo per share.

CWG’s share value was up by 7.95 percent to end trading with N0.95kobo from N0.88kobo per share.

Cutix gained N0.16kobo to close at N2.36kobo from N2.20kobo per share.

READ ALSO: NGX: Investors drop N3.4bn amidst losses in Transcorp, NAHCO

NAHCO’s share appreciated by N0.40kobo to rise from N8 to N8.40kobo per share.

Champion topped the losers’ chart after shedding N0.34kobo to drop from N3.89kobo to N3.55kobo per share.

Ikeja Hotel dropped by N0.10kobo to end trading at N1.20kobo from N1.30kobo per share.

International Breweries lost N0.30kobo to end trading with N5.50kobo from N5.80kobo per share.

Multiverse lost 4.17 percent to drop from N1.89kobo to N1.80kobo per share.

UPDC REIT’s share dropped from N3.60kobo to N3.45kobo per share after losing N0.15kobo during trading.

Transcorp led the day’s trading with 12.18 million shares valued at N15 11 million.

International Breweries followed with 7.64 million shares valued at N42.76 million

First Bank traded 7.40 million shares worth N78.78 million.

Zenith Bank sold 6 58 million shares worth N148.27 million, while Sterling Bank traded 6.44 million valued at N9.98 million.

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