Nigerian stock market extends decline with N1.005tn massive loss

Nigerian banal marketplace extended its bearish tally connected Thursday, with investors losing N1.005 trillion successful marketplace value, a time aft the marketplace shed N648 billion.

Trading information from the Nigerian Exchange, NGX showed that the marketplace capitalisation declined to N158.339 trillion from N159.344 trillion recorded connected Wednesday.

Similarly, the All-Share Index, ASI dropped by 1,617.91 points, oregon 0.66 per cent, to adjacent astatine 245,362.26, compared to 246,980.17 successful the erstwhile trading session.

The latest diminution besides reduced the market’s year-to-date instrumentality to 57.67 per cent, portion marketplace breadth remained negative, with 44 stocks signaling losses against 18 gainers.

On the losers’ chart, Tripple Gee led with a 10 per cent diminution to adjacent astatine N2.88 per share. Lasaco Assurance followed aft shedding 9.92 per cent to N2.18, portion C&I Leasing mislaid 9.84 per cent to settee astatine N5.50 per share.

Mutual Benefits Assurance besides fell by 9.80 per cent to adjacent astatine N3.22, portion Trans-Nationwide Express declined by 9.03 per cent to decorativeness astatine N2.82 per share.

Conversely, Legend Internet topped the gainers’ illustration with an 8.64 per cent appreciation to adjacent astatine N4.40 per share.

Daar Communications precocious by 7.32 per cent to N1.76, portion Sterling Financial Holdin...