INVESTORS RECORD BIGGEST LOSS IN NIGERIAN STOCK MARKET

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By; Ganiyat Sunmola

Investors on Thursday recorded losses of N2.18 trillion on the Nigerian stock market, marking the fourth consecutive day of decline and the largest single-day loss of the week.

Trading data from the Nigerian Exchange Limited (NGX) showed that market capitalisation fell by 1.41 percent, dropping from N154.445 trillion to N152.266 trillion, representing a loss of N2.179 trillion.

Similarly, the All-Share Index (ASI) shed 3,397.80 points, or 1.41 percent, closing at 237,404.92 compared to 240,802.72 recorded at the start of the trading session.

As a result, the market’s Year-to-Date (YTD) return moderated to 52.56 percent. Market breadth also closed negative, with 40 stocks recording losses against 13 gainers.

Among the decliners, Cadbury, Africa Prudential and Triple Gee led the losers’ chart with a 10 percent decline each, closing at N62.10, N11.70 and N3.60 per share respectively. John Holt and McNichols also featured among the major losers.

On the gainers’ side, Legend Internet emerged as the top performer, advancing by 9.52 percent to close at N5.75 per share. NPF Microfinance Bank followed with a 9.18 percent gain to N5.35, while Transcorp rose by 7.32 percent to close at N44 per share.

Market activity improved during the session, with total traded volume increasing by 4.33 percent to 691.64 million shares valued at N116.85 billion across 50,025 transactions.

FirstHoldco led the volume chart with 115.84 million shares traded, accounting for 16.75 percent of total volume, while Dangote Cement dominated the value chart with transactions worth N83.39 billion, representing 71.37 percent of the day’s turnover.

The latest decline extends the losing streak on the NGX to four consecutive trading sessions, resulting in significant losses for investors.