Nigerian investors lose N132.43bn to bears

Investors lost N132.43bn as market capitalisation dropped by 0.63 per cent to close at N21.04bn at Thursday’s trading session.

Similarly, the Nigerian Stock Exchange All-Share Index moderated by 0.63 per cent to close at 40,212.19 points, as bearish sentiment continued to dominate the equities market.

Hence, the Year-to-Date gain of the ASI plunged to 0.15 per cent.

The market recorded major shares sell-offs as 30 stocks lost while 10 gained.

Specifically, big stocks such as MTN, Flour Mills, Zenith Bank, Lafarge Africa and Guaranty Trust Bank moderated, as investors sold off to take advantage of rising yields in the fixed income market.

Sectoral performance was negative, as the banking, insurance, consumer goods, oil and gas and industrial indices all closed in the red zone.

However, trading activity was upbeat as total deals, volume and value of stocks traded closed in the green zone.

Thus, the volume of trade rose by 74.56 per cent to 426.26 million units valued at N4.75bn in 4,972 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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