Investors lose N46bn as equities market fails to sustain gain

Investors in Nigeria’s stock market booked loss of about N46billion on Thursday December 16 as the Bourse failed to sustain preceding trading day’s gain.

Increased sell-side activity on the Nigerian Exchange was driven largely by investors who sold stocks like CAP Plc, Livestock Feeds Plc, UPDC Plc and Cutix Plc.

While CAP led the decliners list, moving from preceding day high of N19.30 to N18.20, down by N1.10 or 5.70percent, NGX Group rallied most from day open low of N17.85 to N18.55, up by 70kobo or 3.92percent.

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FBN Holdings, Access Bank, Ecobank Transnational Incorporated, UBA and Zenith Bank were most traded stocks on the Nigerian Exchange Limited (NGX). Equity traders in the Nigerian market exchanged 249,428,693 units valued at N3.573billion in 3,578 deals.

The Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation which stood at preceding day’s highs of 42,357.36 points and N22.102 trillion respectively decreased to
42,270.23 and N22.056trillion at the close of trading on Thursday December 16.

The record negative close on Thursday pushed Nigeria’s stock market’s year-to-date (YtD) positive return lower to 4.97percent.