Investors lose N35bn as bearish sentiment persists in equities market

Bearish sentiment continued for the fourth day in the Nigerian equities market on Thursday with investors shedding N35 billion at the close of business.

This followed the dip in the share prices of stocks like CUSTODIAN and others on the trading floor.

After five hours of trading at the capital market, the equity capitalization fell to ¦ 65.75 trillion from ¦ 65.79 trillion posted by the bourse on Wednesday.

The benchmark All-Share Index (ASI) decreased to 104,858.77 points from 104,915.13 points recorded the previous day.

The market breadth was negative as 14 stocks advanced and 28 stocks declined, while 77 stocks remained unchanged in 10,182 deals.

CWG, Veritaskap and Deapcap led other gainers with 9.64 per cent, 8.41 per cent and 7.61 per cent growth each in prices to close at N9.10, N1.16 and N0.99 from the previous N8.30, N1.07 and N0.92 per share.

Livestock, Royalex, and Custodian led other price decliners with 9.57 per cent, 8.23 per cent and 6.98 per cent dip in share prices to close at N7.65, N0.78 and N20.00 from the previous N8.46, N0.85 and N21.50 per share

On the volume index, Fidelity Bank led trading with 40 million shares in 446 deals followed by Veritaskap which traded 37 million shares in 172 deals.

NB traded 27 million shares in 161 deals.

On the value index, Zenith Bank traded stocks worth N1 billion in 606 deals followed by NB which traded equities worth N890 million in 161 deals.

Fidelity Bank traded shares valued at N672 million in 17 deals.