• Wednesday, November 29, 2023
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Investors lose N6bn as equities fail to sustain gain

Investors lose N109bn as stock market fails to sustain gains

Nigeria’s equities market on Thursday failed to sustain previous day’s gain amid significant price dip in large-to-small cap stocks like Seplat Energy Plc and Lasaco Plc. Investors booked about N6billion loss while the market decreased by 0.02percent.

Banking stocks were actively traded on the Bourse – namely UBA Plc, FBN Holdings Plc, GTCO Plc and Fidelity Bank Plc.

Thursday’s trading session on the Nigerian Exchange Limited (NGX) closed lower by 0.02percent as the market’s benchmark performance indicator–All Share Index (ASI) –decreased from preceding day’s high of 47,364.46 points to 47,353.22 points.

Also, the value of stocks listed on the Nigerian Exchange decreased by N6billion, from N25.526trillion to N25.520trillion.

Read also: Investors book N41bn gain as equities market maintains positive close

The market’s year-to-date (ytd) positive return increased to 10.85 percent. In 3,848 deals, investors exchanged 239,732,111 units valued at N3.891billion.

Seplat Energy Plc share price decreased most of the Nigerian Exchange, from N960 to N930, losing N30 or 3.13percent; while the Lasaco Plc which followed suite dropped from a high of N1.07 to N1.04, shedding 3kobo or 2.80percent.

Meanwhile, UACN Plc share price moved up most, from N11 to N12.10, adding N1.10 or 10percent; followed by Presco Plc which rose from N125 to N133, up by N8 or 6.40percent.