Stock Exchange Loses N25bn as Investors Book Profit

It was observed that the energy and banking sectors came under selling pressure during the trading session, going down by 1.03 per cent or 0.68 per cent, respectively.

However, the consumer goods counter appreciated by 0.69 per cent, the insurance space grew by 0.53 per cent, and the industrial goods index gained 0.01 per cent.

The Nigerian Exchange (NGX) Limited ended with 32 price gainers and 24 price losers yesterday, indicating a positive market breadth index and strong investor sentiment.

Union Dicon further lost 9.77 per cent to trade at N6.00, Deap Capital weakened by 7.07 per cent to 92 Kobo, CWG shed 5.75 per cent to settle at N8.20, Ikeja Hotel dropped 5.56 per cent to quote at N11.90, and Tantalizers depreciated by 4.88 per cent to N1.95.

On the flip side, Abbey Mortgage Bank appreciated by 10.00 per cent to N3.41, University Press gained 9.78 per cent to close at N5.05, Sovereign Trust Insurance increased by 9.57 per cent to N1.26, Regency Alliance rose by 7.58 per cent to 71 Kobo, and The Initiates soared by 7.23 per cent to N4.30.

At the trading session, investors bought and sold 421.3 million shares worth N8.4 billion in 13,269 deals compared with the 343.7 million shares valued at N8.6 billion traded in 12,970 deals in the preceding day.

This showed that the value of trades went down by 2.33 per cent, the volume of transactions improved by 22.58 per cent and the number of deals went up by 2.31 per cent.

Ellah Lakes ended on top of the activity chart on Thursday with 136.7 million stocks worth N440.2 million, Zenith Bank traded 23.0 million equities valued at N1.2 billion, GTCO sold 20.8 million shares valued at N1.3 billion, Jaiz Bank transacted 17.4 million equities worth N58.6 million, and UBA exchanged 16.3 million stocks for N617.0 million.