Investors Lose N154bn In One Day As 35 Stocks Fall

The losses recorded by 35 equities listed on the Nigerian Stock Exchange at the end of trading on Thursday wiped out a total of N154bn in investors’ wealth.

The NSE All-Share Index fell by 1.06 per cent to close at 39,723.85 basis points on from 40,150.55bps on Wednesday, while the market capitalisation of listed equities dropped to N14.389tn from N14.543tn on Wednesday.

The stock market has been falling since Thursday last week, as bearish sentiments lingered.

Diamond Bank, which led the losers on Thursday, saw its share price shed 8.28 per cent to close at N1.44. It was followed by Fidelity Bank, whose share price dropped by 5.50 per cent to close at N2.06.

Caverton Offshore Support Group Plc depreciated by five per cent to close at N2.47 per share; Nigerian Breweries Plc lost 4.99 per cent to close at N116.10 per share, and Dangote Flour Mills Plc dropped by 4.98 per cent to close at N9.55 per share.

Other losers included Nigerian Aviation Handling Company Plc, AIICO Insurance Plc, Dangote Sugar Refinery Plc, Cement Company of Northern Nigeria, United Capital Plc, Continental Reinsurance Plc, FBN Holdings Plc, Eterna Plc, FCMB Group Plc, Linkage Assurance Plc, Sterling Bank Plc and Jaiz Bank Plc.

Only eight stocks recorded price appreciation on Thursday, with MRS Oil Nigeria Plc leading the pack as it rose by 10.20 per cent to close at N34.35 per share.

Ikeja Hotel Plc gained 4.91 per cent to close at N2.35 per share, while Law Union & Rock Insurance Plc increased by 4.44 per cent to close at N0.94 per share.

Niger Insurance Plc appreciated by 4.17 per cent to close at N0.25 per share while Consolidated Hallmark Insurance Plc rose by 3.33 per cent to close at N0.31 per share.

The others gainers were Okomu Oil Palm Plc, Ecobank Transnational Incorporated, and John Holt Plc.