Stock investors lose N113bn as sell pressure continues on Nigerian Exchange

Nigeria’s equities investors booked additional loss of about N113billion on Thursday as activities of profit takers continued on the Nigerian Exchange Limited (NGX).

Stocks that contributed to the record dip by 0.51 percent include BOC Gases which dropped most, from day-open high of N10.50 to N9.45, losing N1.05 or 10percent.

Also on the top laggards list is UPDC which continued its losing streak after moving further down from 99kobo to 90kobo, losing 9kobo or 9.09percent.

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At the close of equities trading session on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation moved further down, from preceding day’s highs of 42,463.16 points and N22.157trillion respectively to 42,247.98 points and N22.044trillion.

All NGX Sectoral performance indices closed in the red zone on Thursday except NGX Consumer Goods Index which increased slightly by 0.08percent.

The stock market’s positive return year-to-date (YtD) printed lower at +4.91 percent. In 4,706 deals, equities dealers exchanged 324,019,543 units valued at N5.294billion. FBN Holdings, GTCO, Access Bank, Transcorp and Zenith Bank were most traded stocks on the Nigerian Bourse.

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