Equity Investors Lose N61.4 billion As Trading Grows Weary

The downward spiral rocking the Nigerian Stock Market, remained unwavering,on Thursday, November 3, leading the lead indices of the bourse to major losses.
Investors lost a whooping N61.4 billion as market capitalisation dropped to N9.289 trillion as price depreciation in Ashaka Cement, Nascon led the bourse to a negative close. Similarly, the All Share Index depreciated by 0.66 percent to close at 27,044.36 points, increasing the year to date loss to 5.58 percent.
At the end of trading, market breadth read negative with 17 gainers as against 20 losers. Ashaka Cement Plc topped the decliners’ table with a loss of 9.71 percent to close at N11.07 per share.
Nascon Allied Industries Plc trailed behind with a loss of 4.88 percent to close at N7.61 per share and UPL Plc dropped 4.88 percent to close at N4.09 per share.Conversely, Honeywell Flourmills Plc appreciated by 7.89 percent to close at N1.23 per share, May and Banker Plc added 4.76 percent to close at 88 kobo per share, and Learn Africa Plc increased by 3.95 percent to close at 79 kobo per share.

Total volume traded slid by 44.5 percent to 112.5 million shares valued at N2.4 billion in 2,684 deals as against 202.7 million shares valued at N1.259 billion traded in 3,337 deals on Wednesday, November 2.

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