NGX: Investors record N32bn losses after two days of gains

Investors shed N32 billion on Thursday as the Nigerian stock market declined after two days of gains.

This comes as market capitalisation dipped by N32 billion, representing a 0.02 per cent decline, to close at N156.207 trillion from N156.239 trillion recorded on Wednesday amid cautious investor sentiment.

Similarly, the All-Share Index declined 221.14 points, or 0.09 per cent, to 242,145.61, compared with 242,366.75 posted in the previous trading session.

In spite of the decline, the market’s year-to-date return remained positive at 55.61 per cent, while breadth stayed favourable with 27 gainers against 22 losers.

On the losers’ table, Eunisell Interlinked declined 10 per cent to N189, followed by BUA Cement, which fell 9.99 per cent to N275.60 per share, and Chemical and Allied Products, Royal Exchange and Guinea Insurance shed 9.61 cent, 9.55 percent and 5.38 cent.

Conversely, First Holding Company led gainers with 9.96 per cent, closing at N87.25, while McNicholas rose 8 per cent to N5.40, and UBA gained 7.93 per cent.

Trading activity improved as total volume rose 4.64 per cent to 498.45 million shares worth N34.87 billion across 39,484 transactions during Thursday’s operations.

Ja Paul Gold dominated volume with 77.66 million shares traded, representing 15.58 per cent of the day’s total volume amid increased investor activity.

Seplat emerged as the most valuable stock with transactions worth N13.19 billion, accounting for 37.82 per cent of total value traded during Thursday’s session.

NGX: Investors record N32bn losses after two days of gains