Nigerian stock market loses N1bn amid downward trend

Bisola David
Bisola David
Nigerian stock market loses N1bn amid downward trend

The market capitalization of the Nigerian Exchange decreased slightly to N55.87 trillion on Wednesday as a result of the muted trading activity.

The PUNCH reported that the investors lost N1 billion as the All-Share Index dropped 0.002 percent to 102,106.31 points at the end of trade.

Tuesday’s volume of trading was 494.19 million units; on Wednesday, it dropped to 341.92 million units, and the value of traded units fell to N6.41 billion, a 15.68% decrease.

In addition, the quantity of trades decreased to 9,665 deals, down 17.82% from the two trading days prior.

There were 19 winners and 36 losers in the market breadth, which is a gauge of investors’ sentiments.

Meyer Plc was the biggest gainer on the gainers’ chart, closing at N5.72 after a 10% appreciation; Tripple G gained 9.84% to conclude at N4.13, and Juli Plc’s shares appreciated by 9.09% to close at N0.84.

Leading the losers’ table were AIICO Plc, whose shares fell 9.92% to close at N1.18, Cadbury Nigeria Plc, whose shares fell 9.50% to N21.90, and Guinea Insurance Plc, whose shares fell 8.93% to N0.51 despite the company reporting a profit of N249.43m for the year ended 2023 following an N61.02m loss in 2022.

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