Nigerian Equities Market Loses N440 Billion on Thursday

On Thursday, the Nigerian equities market experienced a downturn, closing with a loss of N440 billion. The market capitalization of listed equities decreased by 0.28%, ending at an unspecified value.

The NGX All Share Index fell by 712.67 basis points, dropping from 240,750.47 points to 240,037.80 points. This negative performance was primarily influenced by declines in shares of Aradel Plc, GTCO Plc, Zenith Bank, UBA, and 24 other companies.

The market breadth remained negative, with 14 gainers compared to 28 decliners, resulting in a year-to-date return of 54.25%. Notably, HMCall led the gainers with an increase of 8.90% to close at N3.85 per unit, while International General Insurance topped the losers, dropping by 9.85% to close at N4.30 per unit.

The volume of trades surged by 1.679 billion shares, representing a 140.74% increase, while the value of trades decreased by 10.13% to N33.99 billion across 34,724 deals.