Home Markets Panic sell-offs rob off on equity market, index dips 0.09%

Panic sell-offs rob off on equity market, index dips 0.09%


Investors on the Nigeria Stock Exchange (NSE) further embarked on panic sell-offs on Thursday, bringing the market to its third straight loss for the week with the All Share Index (ASI) declining 0.09 percent to close at 32,423.57 points.

The market’s ASI closed at 32,454.03 points at the end of the previous day’s trading.

Market capitalisation also fell by 0.09 percent closing at N11.837 trillion, as against N11.848 trillion of the previous trading session implying a loss of N11 billion

The volume and value of traded stocks appreciated by 10.69 percent and 7.82 percent, to stand at 151 million units and N1.5 billion respectively.

At the close of trading for the day, a total of 19 stocks closed positive, while 18 stocks lost, bringing the market breadth to a positive round off.

As a result, Cutix Plc led other price percentage gainers closing at 10.00 percent above the previous close of N4.30, to settle at N4.73 per share.

Sovereign Trust Insurance grew 9.09 percent, while A.G. Leventis and Cement Company of Northern Nigeria (CCNN) gained 8.11 percent and 7.76 percent of their share prices respectively.

Conversely, Niger Insurance tops the losers’ table, Shedding 9.68 percent of its share price. This is followed by NEIMETH and Royal Exchange both losing 9.23 percent and 9.09 percent respectively, among other stocks on the losers’ table.

FCMB recorded the highest volume of traded stocks on Thursday, trading about 28.9 million units of its shares in 202 deals, valued at N49.8 million.

Guaranty traded about 18 million units in 123 deals, worth about N671 million.