Nigerian Stock Exchange Loses 3.35% on Thursday

Nigerian Stock ExchangeNigeria Stock Exchange
  • Nigerian Stock Exchange Loses 3.35% on Thursday

The Nigerian Stock Exchange (NSE) declined further on Thursday as investors continue to close their positions amid growing global uncertainty following the World Health Organisation (WHO) declaration that the coronavirus outbreak is now a global pandemic.

The market capitalisation of listed equities declined by N457 billion from N12.284 trillion it closed on Wednesday to N11.827 trillion as global financial markets nosedive.

The NSE All-Share Index declined by 3.35 percent or 815.91 basis points from 23,572.75 bps recorded on Wednesday to 22,695.88 bps on Thursday.

Stock investors traded a total share of 1.058 billion shares in 5,501 transactions during the trading hours.

Caverton Offshore Support Group plc topped gainers’ chart with a profit of 10 percent while Skyway Aviation Company Plc followed with 9.83 percent gain. Stanbic IBTC Plc came third with a 3.35 percent profit to close at N29.30 per share.

On the other hand, Africa Prudent Plc, Flour Mills Nigeria Plc, Fidelity Bank Plc, Nigerian Breweries Plc and Oando Plc led losers’ chart with a 10 percent decline each.

The bourse has lost almost N2 trillion in the last four trading days, N329.39 billion on Monday; N656 billion on Tuesday; N425 billion on Wednesday and N457 on Thursday when the entire global market crashed.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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