The downward streak in equity market persisted for Four days investors losing N56billion
The downward streak in the Nigerian equity market persisted for the fourth consecutive day on Thursday, resulting in investors losing N56 billion.
Continuing the trend, the All Share Index decreased by 0.10%, settling at 97,100.36 points, and market capitalization dropped to N55.13 trillion.
The market’s year-to-date return further moderated to 31.27%, with the month-to-date and week-to-date returns showing negative trends at -0.64% and -1.52%, respectively.
During Thursday’s trading session, a total of 271.3 million shares valued at N3.52 billion were traded in 7,233 deals, marking declines in volume, turnover, and deals compared to the previous day.
Bearish sentiment persisted with 116 listed equities participating in trading, resulting in 14 gainers and 31 losers.
Neimeth International Pharmaceuticals
Neimeth international pharmaceuticals led the gainers with a 9.55% increase, while notable declines were seen in Oando, which suffered a 9.94% decrease.
Veritas Kapital Assurance
Veritas kapital Assurance led in volume traded, with other actively-traded stocks including Sterling Bank, AIICO Insurance, and RT Briscoe.
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Overall, the market has faced negative performances earlier in the week, with declining share prices impacting the bearish trend. Analysts anticipate the downturn to persist in the short term due to ongoing sell-offs and prevailing bearish sentiment.
