Equity market loss extends as investors lose N235bn

Trading on the Stock Exchange floor on Thursday continued a gloomy trend for the fourth day in a row, ending the first trading day of August on a negative note as investors lost N235bn.

The All Share Index closed at 97,359.76 points, down 0.42 percent from the previous closing of 97,774.22 points.

As a result, the year-to-date percentage is currently (31.28 per cent), the month-to-date is (-2.70 per cent), and the week-to-date percentage is (-0.85 per cent).

The market capitalization closed at N55.28tn. In 6,821 transactions, a total of 565,116,303 units of shares valued at N8,530,916,819,.09 were traded.

Additionally, 119 NGX-listed equities participated in trading, share prices of 22 stocks increased, and those of 19 stocks decreased, resulting in a positive closing market breadth.

Leading the gainers’ charts were United Capital surged (9.95),  Cutix plc, and Africa Prudential plc gained (9.94 per cent) respectively to close at N11.05 N5.64 and N9.40 respectively.

On the losers chart are Mecure Industries lost (9.94 per cent), Thomas Wyatt dipped (9.74 per cent) and Wapic Insurance also lost (8.24 per cent).

Zenith bank, Oando plc and Access Holdings plc led the volume chart 19,242,126 million unit 19,035,527million units, 15,757,586 million units respectively.

The banking industry gained 0.42 per cent, Industrial Index gained  0.01 per cent, while the NGX Oil  gas Gas Industry dipped 0.05 per cent.

On Wednesday, the Nigerian Exchange continued its bearish trend for the third consecutive day this week, as investors lost N32bn due to losses suffered by Berger, Cutix, and Nigerian Aviation Handling Company.