Nigeria’s stock market has recorded four consecutive downturns within the week, with overall market performance declining by 0.11 percent on Thursday.
During Thursday’s trading, the decline resulted in investors losing a significant N77 billion.
This comes as the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N77 billion, or 0.11 percent, to N67.102 trillion from an opening of N67.179 trillion.
The All-Share Index also declined by 0.11 percent, or 123.53 points, to close at 107,675.46, against 107,798.99 of the previous day.
The Year-To-Date (YTD) return stood at 4.61 percent.
The market breadth ended positive, with 30 gainers and 23 losers.
On the gainers’ table, Oando Plc and PZ Cussons Nigeria Plc (PZ) led with a 10 percent increase each, closing at N48 and N29.50 per share, respectively.
On the flip side, on the losers’ chart, Fidson Healthcare Plc led with a 9.60 percent decrease, closing at N19.80 per share, followed by Ecobank Transnational Incorporated (ETI) with a 9.51 percent decrease, closing at N34.70 per share.
A total of 423.42 million shares, worth N9.57 billion, were exchanged across 11,112 transactions, compared with 245.51 million shares, worth N8.41 billion, traded across 10,098 transactions in the previous session.
On the activity table, First City Monument Bank led in volume with 102.27 million shares, while Access Corporation led in value of deals, worth N801.88 million.
Urban Express News Online reports that from Monday to Thursday this week, the equity market has continued to experience a bearish trend.
