Capital Market Investors Lose N9.2bn As Index Dips By 0.07%

The Nigerian Capital Market on Thursday experienced a second consecutive day of decline as uncertainty over the coronavirus pandemic continues to impact the economy negatively.

The bearish performance led to a N9.2bn loss by investors in the Nigerian Stock Exchange as market capitalisation dipped to N13.3trn.

The loss was driven by sell-offs in Zenith Bank Plc which lost 1.8 per cent, Dangote Sugar 5.9 per cent and Ecobank Transnational Incorporated which shed 2.5 per cent.

The All Share Index also lowered by seven basis points to settle at 25,532.74 points, representing a decline of 0.07 per cent.

The volume traded at the local bourse rose by 9.2 per cent to 231.2 million units while value traded dropped by 13.3 per cent to N2.1bn.

The most traded stocks by volume were First City Monument Bank which sold 33.5 million units, Access Bank Plc 30.4 million units and Zenith Bank Plc 25.1 million units.

In monetary terms, Guaranty Trust Bank led by value with N506.3m, Zenith Bank N418m and MTN Nigeria N322m.

The Insurance and Consumer goods indices rose by 1.3 per cent and 0.1 per cent respectively due to buying interest in Wapic at 9.1 per cent, AIICO Insurance 4.7 percent, Flour Mills 1.5 per cent and Cadbury 4.2 per cent.

The Banking, Oil and Gas indices lost 0.4 per cent and 0.2 per cent respectively due to sell pressures in Zenith Bank, ETI and Oando.

The top gainers were International Brewery which appreciated by 10 per cent, and WAPIC 9.1 per cent and while Tripple G led the losers by 9.1 percent, Caverton 8.6 per cent and Dangote Sugar lost by 5.9 per cent.