Investors lose N958bn as NGX extends bloodbath

Investors’ wealth dropped further by N958 billion after the close of trading at the Nigerian stock market on Thursday. 

Data from Nigerian Exchange Limited showed that market capitalisation fell by 0.64 per cent to close at N149.888 trillion, down from N150.846 trillion in the previous session.

Similarly, the All-Share Index (ASI) shed 1,493.71 points, or 0.64 per cent, to settle at 233,580.83, compared with 235,074.54 recorded earlier.

Market breadth closed negative, with 34 losers against 14 gainers, while the year-to-date return moderated to 50.10 per cent.

On the losers’ table, Aradel Holdings and Deap Capital Management led with 10 per cent each, closing at N1,575.00 and N4.05 per share, respectively.

On the flipside, Red Star Express led the gainers’ chart with 9.60 per cent to close at N24.55, followed by Legend Internet, which rose 9.09 per cent to N6.00.

Trading activity, however, declined as total volume fell by 19.35 per cent to 393.65 million shares valued at N19.21 billion across 45,813 deals.

Access Holdings led the volume chart with 39.05 million shares, representing 9.92 per cent of total trades, while Lafarge Africa recorded the highest transaction value at N2.25 billion, accounting for 11.70 per cent of total turnover.