Stock Market Investors Lose N285billion In Two Days

A downward trend on the Nigerian Stock Exchange, NSE, was sustained for two days following offloading of shares by both local and foreign investors.

Consequently, shareholders on Wednesday, December 9, lost about N285 billion or 2.9 per cent.

The All-Share Index shed 528.53 basis points or 1.92 per cent to close at 27,004.50 basis points as against 27,533.03 recorded the previous day while market capitalisation of equities depreciated by N182 billion or 1.92 per cent to close lower at N9.284 trillion as against N9.466 trillion recorded the previous day.

Meanwhile, a turnover of 240.7 million shares worth N2.4 billion in 3,061 deals was recorded in the day’s trading. The banking services sector of the financial services sector was the most active during the day (measured by turnover volume); with 94.9 million shares worth N694.1 million exchanged by investors in 734 deals.

Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Access Bank Plc. Also, the Premium board sub-sector, boosted by activities in the shares of Zenith Bank Plc and FBNH Plc, followed with a turnover of 84.4 million shares valued at N986.9 million in 983 deals.

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