Stock Market Continues To Hobble, Investors Lose N130bn

Stock Market Continues To Hobble, Investors Lose N130bn

The Nigerian stock market has continued its descent, as investors part ways with N130 billion at the close of the market on Thursday.

Equity capitalisation dropped a few notches from the N21.16 trillion recorded on Wednesday to Thursday’s N21.036 trillion.

The All-Share Index (ASI) also fell by 0.63 percent after closing the day’s trade at 40,212.19 with a loss of 253.13 basis point.

Thursday’s ASI at the end of trade fell below the 40,465.32 ASI reported on Wednesday.

Shares traded on the floor of the Nigeria Stock Exchange (NSE) by investors swelled to 426.26 million shares; higher than the previous day’s 244.20 million shares.

The NSE reported that the value of shares rose to N4.75 billion, more than Wednesday’s N2.65 billion.

Top Gainers

The following are the top 5 top gainers at the close of trading at the NSE:

RT Briscoe: opened with N0.22 kobo, closed flat at N0.22 kobo, up 10 percent.

Cornerstone: opened with N0.59 kobo, closed at N0.64 kobo, up 8.47 percent.

Royal Exchange: opened with N0.25 kobo, closed at N0.27, up 8 percent.

NAHCO: opened with N2.15 kobo, closed at N2.29 kobo, up 6.51 percent.

Niger Insurance: opened with N0.22 kobo, closed at N0.23 kobo, up 4.55 percent.

READ ALSO: HF Partners Interswitch to Launch International Money Transfer Service

Top Losers

Topping the losers’ list is UPL, opening the trading day with N1.32 kobo, to close at N1.2, down 9.09 percent. Others are:

Chams: opened with N0.24 kobo, to close at N0.22 kobo, down 8.33 percent.

UPDCREIT: opened with N5.8 kobo, to close at N5.35 kobo, down 7.76 percent.

Multiverse: opened with N0.26 kobo, to close at N0.24 kobo, down 7.69 percent.

Japaul Gold: opened with N0.72 kobo, to close at N0.68 kobo, down 5.56 percent.

Despite Nigeria coming out of recession with a GDP growth rate of 0.11, the stock market has remained steeped in losses for four days in a stretch.

Sectors covered by the NSE all fell into the red category.

This site uses Akismet to reduce spam. Learn how your comment data is processed.