The Nigerian bourse further depreciated by 0.49 per cent on Thursday in the absence of a positive market trigger as selling pressure deepened.
Data from the Nigerian Exchange (NGX) Limited showed that apart from the insurance space, which improved by 0.44 per cent and the commodity index, which closed flat, every other sector was in red.
The banking industry was down by 1.41 per cent, the consumer goods sector declined by 0.92 per cent, the industrial goods counter slumped by 0.45 per cent, and the energy counter lost 0.02 per cent.
Consequently, the All-Share Index (ASI) slipped by 691.52 points to 140,557.24 points from 141,248.76 points and the market capitalisation contracted by N438 billion to N88.935 trillion from N89.373 trillion.
International Energy Insurance was the worst-performing stock after it fell by 9.62 per cent to N3.29, Omatek lost 8.97 per cent to trade at N1.32, Ellah Lakes depreciated by 8.49 per cent to N13.68, Royal Exchange moderated by 6.98 per cent to N2.00, and Sunu Assurances crashed by 6.42 per cent to N5.54.
Conversely, SCOA Nigeria appreciated by 10.00 per cent to close at N6.05, RT Briscoe jumped by 9.80 per cent to N3.36, NEM Insurance grew by 7.96 per cent to N31.20, NGX Group expanded by 7.94 per cent to N57.80, and McNichols increased by 7.04 per cent to N3.80.
Business Post reports that there were 19 price gainers and 39 price losers at Customs Street yesterday, indicating a negative market breadth index and weak investor sentiment.
During the session, investors traded 885.0 million shares worth N28.3 billion in 26,163 deals versus the 682.9 million shares valued at N22.2 billion traded in 28,695 deals on Wednesday, representing a shortfall in the number of deals by 8.82 per cent and a leap in the trading volume and value by 29.59 per cent and 27.48 per cent apiece.
The busiest equity for the day was Champion Breweries with 201.1 million units sold for N3.5 billion, Access Holdings exchanged 102.2 million units worth N2.8 billion, GTCO traded 96.5 million units valued at N8.9 billion, Sterling Holdings sold 90.8 million units for N726.6 million, and First Holdco transacted 46.3 million units worth N1.5 billion.