Trading activities on the Nigerian Exchange took a negative turn on Thursday, resulting in a loss of N43 billion in market capitalization.
This decline was attributed to price depreciation in the shares of Nestle Nigeria Plc, Zenith Bank, GTCO Plc, Transcorp, RTBriscoe, and 20 other listed companies.
Market capitalization of listed equities declined by 0.12 percent, falling from N36.896 trillion to N36.853 trillion compared to the previous day.
The NGX All Share Index also depreciated, dropping by 79.10 basis points to reach 67,335.30 points, down from the 67,414.40 points traded on Wednesday.
In the daily trading results, Chellaram Plc led the gainers’ table with a 10 percent increase in share price, closing at N3.85 per share. Learn Africa followed with a gain of 9.97 percent, closing at N3.31 per share.
Academy Press gained 9.94 percent, closing at N1.88 per share, while Chi Plc added 9.52 percent to close at N0.92 per share. Courtvellle Business Solutions also added 9.26 percent, closing at N0.59 per unit.
On the contrary, ETranzact topped the losers’ chart with a 10 percent drop, closing at N7.20 per share.
Ikeja Hotel trailed with a loss of 9.84 percent, closing at N2.75 per share. ABC Transport fell by 9.78 percent, closing at N0.83 per unit. Guinea Insurance dipped by 9.38 percent, closing at N0.29 per share, and RTBriscoe declined by 9.09 percent, closing at N0.40 per unit.
The volume of trades increased significantly by 218.91 million shares, representing a 38.43 percent rise.
Investors traded 788.536 million shares valued at N14.169 billion in 8,810 deals, compared to 569.626 million shares worth N8.697 billion exchanged the previous day in 8,404 deals.
Transactions in the shares of United Bank for Africa led market activity, with 304.025 million shares valued at N4.892 billion. Sterling Bank followed with an account of 82.476 million shares worth N313.285 million.
Chi Plc traded 46.031 million shares, costing N37.801 million, while Oando Plc traded 36.690 million shares, costing N383.746 million. Fidelity Bank exchanged 31.399 million shares, costing N261.255 million.
