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Nigeria’s stock market back in red as investors lose N45bn in 8 hours

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Trading activities in the Nigerian capital market closed on a negative note on Thursday amidst sell-offs and buy-interests.

Data obtained from Nigeria Exchange Group (NGX) showed that the All-Share Index closed at 42,270.23 points reflecting a 22 percent decline when compared to the previous trading day.

However, a Year-to-Date (YTD) return at the market was up by 4.97 percent.

In Thursday trading activities, the market capitalisation was down by N45.47 billion to close at N22.06 trillion compared to N22.10 trillion posted the previous day.

Royal Exchange Plc ended the session as the biggest price gainer as its share price grew by 5.00 percent to close at N0.63, followed by Champs Plc which appreciated by 74.76 percent to close at N0.22.

Other top five gainers include the NGX with a gain of 3.92 percent to close at N18.55, Ecobank Transnational up by 3.26 percent to close at N9.50 and Transnational Corporation of Nigeria Plc shares went up 3.16 percent to close at N0.98.

However, Livestock feeds Plc led the losers’ table after its equity price declined by –10.00 percent to close at N1.80.

UACN Property Development Company stocks dropped by 8.33 percent to close at N1.10 and CAP Plc depleted by 5.70 percent to close at N18.20.

Sovereign Trust Insurance share price was down by 4.17 percent to close at N0.23 while Cutix Plc dropped 2.13 percent to trade at 46 kobo.

READ ALSO: Nigeria’s stock market down by 0.22% as investors lose N48.83bn

At the close of trading, a total of 20 equities ended on the losers’ chart while 15 finished on the gainers’ table, indicating a negative market breadth and investor sentiment.

On the activity chart, First Bank Holdings closed the day as the most active stock with the sale of 79.13 million while Access exchanged N33.25 million shares.

EcoBank also exchanged 23.18 million units of shares while UBA and Zenith Bank traded 12.95 million and 9.62 million shares units respectively.

FBNH closed the day with the highest share value exchange of N955.87 million followed by MTN N611.99 million, Access N299.45 million, Dangote Cement exchanged N272.50 million and Zenith N238.42 million.

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