When everyone thought the stock market was beginning to stabilise this week, it crashed.
Investors are, however, counting their losses after a third day of loss at the Nigerian Stock Market.
Nigeria’s stock market could not sustain the early trading rally seen on Thursday, as it reverted to the negative region by 0.12%.
This means that investors lost ₦67 billion at the close of trading by 2.30pm, on Thursday.
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The Nigerian Exchange Limited (NGX) All Share Index (ASI) fell from preceding day’s high of 101,362.38 points to 101,239.1 points.
While the market capitalisation dropped to ₦55.396 trillion from ₦55.463 trillion seen the preceding trading day.
The market’s year-to-date (YtD) return is still in the positive region of 35.39%.
Investors sold mostly stocks of PZ Cussons, Wema Bank and Morison.
These stocks occupied topmost positions among Thursday’s major laggards on the Bourse.
Wema Bank share price dropped from a high of ₦8.66 to ₦7.80, losing 86 kobo or 9.93%.
PZ Cussons decreased from ₦27.30 to ₦24.60, losing ₦2.70 or 9.89%.
Morison also made the top losers list after its share price decreased from ₦2.05 to ₦1.85, down by 20 kobo or 9.76%
The market has decreased this week by 4.24% and closed negative on Thursday.
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In 7,248 deals, investors exchanged 252,997,201 shares worth ₦4.944 billion.
FBN Holdings, UBA, Access Holdings, Prestige Assurance, and Zenith Bank were actively trading stocks.
