On Thursday, the Nigerian stock market saw a significant decline, resulting in a N958 billion loss in investor value. According to figures from the Nigerian Exchange Limited, market capitalisation decreased by 0.64 per cent, settling at N149.888 trillion from the prior figure of N150.846 trillion.
The All-Share Index dropped by 1,493.71 points, a 0.64 per cent decrease, ending the session at 233,580.83. Market sentiment remained weak, with 34 stocks declining compared to only 14 that gained, bringing the year-to-date return to 50.10 per cent.
Aradel Holdings and Deap Capital Management were the primary losers, both dropping by 10 per cent to close at N1,575.00 and N4.05 respectively. Conversely, Red Star Express outperformed other stocks with a 9.60 per cent gain to close at N24.55, while Legend Internet followed with a 9.09 per cent increase to N6.00.
Trading volume also saw a downturn, shrinking by 19.35 per cent to 393.65 million shares worth N19.21 billion across 45,813 transactions. Access Holdings remained the most active stock by volume with 39.05 million shares traded, while Lafarge Africa dominated in total value with transactions reaching N2.25 billion.
