The record number of negative closes seen since this month of February has caused the market to book a dip of 5.19percent month-to-date (MtD).
This has also erased the previous gains as year to date (YtD) printed negative at 0.15 percent on Thursday February 18. Investors lost N133billion on Thursday.
In the absence of any significant positive catalyst capable of lifting investors’ confidence, the bearish performance seen lately in Nigeria’s stock market will filter into Friday’s trading session.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) and market capitalisation decreased further from preceding day high of 40,465.32 points and N21.169trillion respectively to 40,212.19 points and N21.036trillion.
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The nation’s stock market recorded another session of negative close on Thursday (-0.63percent) as investors continued their profit taking activities in mid-to-large cap stocks.
Shares of University Press Plc recorded the highest decline on Thursday, from N1.32 to N1.2, losing 12kobo or 9.09 percent, followed by that of Chams Plc which dropped from 24kobo to 22kobo, losing 2kobo or 8.33 percent.
UPDC REIT moved down from N5.8 to N5.35, losing 45 kobo or 7.76 percent, while Japaul Gold dipped from 72kobo to 68kobo, losing 4kobo or 5.56percent.
FBN Holdings, Zenith Bank, Dangote Sugar Refinery, GTBank and Transcorp were actively traded stocks on the Bourse. In 4,972 deals, investors exchanged 426,269,603 units valued at N4,750billion.
