Investors lose N73bn as Nigerian stock market slumps into Democracy Day holiday

Investors mislaid N73 cardinal after Thursday’s trading connected the Nigerian Stock Market to end the week on a bearish enactment arsenic the federation marks Democracy Day. 

Data from NGX showed that the marketplace capitalisation declined by 0.05 per cent, closing astatine N156.969 trillion, down from N157.042 trillion recorded successful the erstwhile session.

The All-Share Index besides shed 133.47 points, oregon 0.05 per cent, closing astatine 244,738.74 compared with 244,852.21 previously.

The market’s year-to-date instrumentality weakened to 57.27 per cent, portion marketplace breadth closed level with 32 gainers and 32 losers.

On the losers’ chart, International Energy Insurance led, dropping 10 per cent to adjacent astatine N7.11 per share. May and Baker, Triple Gee, Abbey Mortgage Bank, and AXA Mansard each recorded a decline. 

Meanwhile, connected the flip side, Enamelware, Learn Africa, Consolidated Hallmark and University Press each precocious by 10 per cent.

Further investigation showed that a full of 1.70 cardinal shares worthy N52.81 cardinal were traded successful 49,807 deals. This compares with 1.23 cardinal shares valued astatine N38.84 cardinal exchanged successful 54,193 transactions during the erstwhile session. FCMB led the measurement illustration with 584.87 cardinal shares traded, representing 33.99 per cent of full marketplace volume.

Access Corporation topped the worth illustration with transacti...