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Nigerian exchange loses N6bn as bearish run continues

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The Nigerian Exchange lost N6bn on Thursday as the All Share Index fell by 0.1%, closing at 97,477.19. Investors traded 277 million shares in 7,091 deals, with a 22% decline in volume.

 

The bearish trend persisted on the Nigerian Exchange on Thursday, resulting in a N6bn loss. The All Share Index dropped by 0.1% to close at 97,477.19, with the market capitalisation also decreasing to N56tn.

The year-to-date performance of the market moderated to 30.36%.

 

Also read: NASD OTC Securities Exchange gains 2.40% as Aradel Holdings leads market growth

 

A total of 277.7 million shares were traded in 7,091 deals, amounting to N4.65tn in value. The volume of traded shares fell by 22%, while turnover and the number of deals declined by 33% and 17%, respectively.

Out of 122 stocks traded, 23 recorded gains while 22 experienced losses. Regency Alliance Insurance led the gainers with a 10% increase, closing at N0.66, followed by Caverton Offshore Support Group (+9.73%), Royal Exchange (+8.7%), and Associated Bus Company (+8.2%).

On the losing side, Daar Communications saw the largest decline, with a 10% drop to N0.63. Other notable losers included Livestock Feeds (-9.88%), Fidson Healthcare (-9.71%), and Sunu Assurances Nigeria (-9.71%).

Fidelity Bank topped the trading volume with 43.3 million shares traded, followed by United Bank for Africa with 30.7 million shares, Zenith Bank with 25.6 million shares, and Lasaco Assurance with 22.1 million shares.


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