Thirty-nine listed companies on the Nigerian Exchange Limited (NGX) drove the market into its fourth straight day of losses on Thursday, wiping out N348 billion from investors’ wealth.
Accordingly, the All-Share Index also declined by 0.36 per cent, or 547.32 points, to close at 150,573.87, compared with 150,026.55 posted on Wednesday.
Consequently, the year-to-date return declined by 45.76 per cent. The market breadth closed negative, with 39 losers and 15 gainers recorded.
Legend Internet led the losers’ chart by 9.93 per cent on Thursday.
On the flip side, UPDC leads the gainers chart by 9.83 per cent to close at N6.55, followed by FCMB.
NGX data showed that the market activity indicated an overall decline in volume, value, and number of deals, as 619.63 million shares worth N16.5 billion were traded across 24,865 transactions when compared with 1.11 billion shares valued at N29.8 billion exchanged in 27,303 deals on Wednesday.
FCMB Group led in traded volume with 149.9 million shares worth N1.6 billion.
According to Veritas Nexus, investors on the NGX have been experiencing sustained losses throughout the week.
