Bears return as investors lost N66bn

The Nigerian Stock Exchange All-Share Index contracted by 0.31 per cent to 40,095.49 points amid renewed profit taking activity at close of trading on Thursday.

Also, the market capitalisation moderated by 0.31 per cent to close at N20.98, as investors lost N65.83bn.

At the close of trading, the market printed 24 losers and 14 gainers, while the Year-to-Date loss of the ASI worsened to -0.43 per cent.

Sentiment was negative in the local bourse, as yields continue to journey northwards at the fixed income space, analysts from Cowry Asset Management said.

“We saw the 364-day treasury bill rise to 5.5 per cent at the primary market yesterday,” the analysts added.

Specifically, the share prices of Zenith Bank, Nigerian Breweries, Access Bank and UAC of Nigeria recorded a southward movement.

Four of the five indices tracked closed in the red, save the insurance index, which rose by 0.24 per cent.

Notably, the banking, consumer goods, oil and gas and industrial indices fell by 1.44 per cent, 0.79 per cent, 0.14 per cent and 0.001 per cent respectively.

Trading activity was weak as total deals, volume and value of stocks traded fell.

At the close of Thursday’s trading, total volume of trade dropped by 30.56 per cent to 326.04 million units valued at N3.71bn in 4,567 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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