Investors at Nigerian Exchange Limited shed N35 billion on Thursday as persistent sell pressure resulted in a downturn trend in the country’s stock market.
NGX market capitalisation was down by N35 billion or 0.05 percent to N65.754 trillion from N65.789 trillion recorded on Wednesday.
Also, the All-Share Index dropped by 0.05 percent, or 56.36 points, to close at 104,858.77 against 104,915.13 posted the previous day.
The development comes amid sales in major stocks, which include Unilever, Accesscorp, Afriprud, and others, pushing the market into a downturn.
Similarly, market breadth closed negative with 28 losers and 14 gainers.
On the losers’ table, Livestock Feeds dropped by 9.57 percent to close at N7.65, while Royal Exchange lost by 8.24 percent to close at 78k per share.
Custodian Investment Trust declined by 6.98 percent to close at N20, and UPDC Real Estate Investment Trust fell by 6.23 percent to close at N2.86 per share.
Also, Champion Breweries lost 5.16 percent to close at N2.02 per share.
Meanwhile, on the gainers’ table, Computer Warehouse Group (CWG) soared by 9.64 percent to close at N9.10, while Veritas Kapital Assurance increased by 8.41 percent to close at N1.16 per share.
Deap Capital Management and Trust gained by 7.61 percent to close at 99k, while WAPIC Insurance soared by 4.26 percent to close at N2.45 per share.
Also, Wema Bank increased by 2.37 percent to close at N10.80 per share.
A total of 310.53 million shares worth N6.247 billion were exchanged across 10,182 transactions.
This is compared to 1.37 billion shares worth N12.375 billion that was exchaged across 12,012 transactions earlier recorded.
Transactions in the shares Fidelity Bank topped the activity chart with 40 million shares valued at N672 million.
Veritas Kapital Assurance followed with 37.176 million shares worth N42.415 million, while Nigerian Breweries traded 27.011 million shares valued at N890 million.
Zenith Bank sold 22.905 million shares worth N1.072 billion, and Access Corporation traded 20.983 million shares worth N464 million.
