Equity market extends loss by N65bn

The Nigerian equity market continued to decline on Thursday with a N65bn loss.

The All Share Index and the market capitalisation shed 0.12 per cent to close at 95,718.05 points and N54.98tn, respectively.

The year-to-date return dropped to 28.74 per cent, while month-to-date and week-to-date returns stood at -2.05 per cent and -1.36 per cent, respectively.

The day’s trading session saw a total of 393,620,711 shares worth N5.85bn exchanged in 8,243 deals, representing a 9 per cent improvement in trading volume, a 19 per cent decline in turnover and a 6 per cent drop in the number of deals.

Also, 22 gained while 18 declined, with Skye Shelter Fund leading the gainers with a 10 per cent increase, closing at N122.65 per share.

It was followed by Academy Press (10 per cent), Oando (9.99 per cent), and RT Briscoe (9.78 per cent).

On the losing side, Transcorp Hotels recorded the highest decline with a 10 per cent drop to N90, followed by Chams (-9.72 per cent), Eterna (-9.55 per cent), and Ikeja Hotel (-9.09 per cent).

 Universal Insurance Company had the highest trading volume with 68.2 million shares, followed by Chams (33.8 million), Oando (29.8 million), and Transcorp Nigeria (28.1 million).

The PUNCH reports that the Nigerian stock market capitalisation increased by N599bn following the listing of new shares by International Breweries Plc. 

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