Investors Lose N112bn At Close Of Market

Investors at the close of trading on September 06, 2023, lost N27bn as trading activities slowed due to the national strike and as the nation awaits the decision of the Presidential Election Petitions Tribunal.

The market reacted negatively on Thursday as the amount of loss worsened to N112 billion, with the market capitalisation losing 0.29% to close at N37.261 trillion.

The All-Share Index lost 204.17 basis points to close at 68.082.11 on Thursday. Although the volume of shares traded dropped to 378.089 million in 8,106 deals.

Market sentiments became bullish, recording a total of 30 losers as against 25 gainers. On the losers chart were Nestle, which lost 1.39% of its share value to close at N1.075, and Zenith Bank, which lost 0.14% to close at N36.95.

NASCON’s shares dipped by 6.83% to close trading at N56.60 per unit, Dangote Sugar lost 3.98 per cent to close at N64.Both Dangote Sugar and NASCON Allied Industries are in the middle of a merger with Dangote Rice Limited.

Meanwhile, Betaglas whose shares appreciated by 9.97 per cent to close at N51.85 lead the gainers chart, followed by Cadbury which gained 9.86 per cent to close at N15.60.