BusinessDay
NigeriaDecides2023

Stocks lose N78bn as investors sell Okomu, NEM Insurance, others

At the close of equities trading session on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased further by 0.29percent from preceding day’s high of 49,691.17 points and N26.801trillion respectively to 49,546.38 points and N26.723trillion.

As sell pressure continued on the Bourse, Nigeria’s listed stocks value decreased by N78billion.

The record negative close was caused among others by Okomu Oil Palm Plc which decreased most on the Bourse from N216.90 to N195.30, losing N21.60 or 9.96percent.

Read also: Chart of the day return on average equity of Nigeria’s consumer goods firm

Also on the top laggards list is NEM Insurance Plc which decreased from N4.41 to N3.97, after losing 44kobo or 9.98percent; and University Press Plc which dropped from a high of N2.12 to N1.91, shedding 21kobo or 9.91percent.

In 3,180 deals, investors exchanged 146,987,134 shares valued at N2.649billion. FBN Holdings, UBA, Access Holdings, GTCO and Stanbic IBTC were top-5 most traded stocks on the Bourse on Thursday.

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