ABC Transport, Sovereign Insurance and Royal Exchange share prices dipped , as investors lost N100.56 Billion

Trading on the floor of the Nigeria Stock Exchange recorded a loss of N100.566 Billion on Thursday following a significant fall in the share prices of ABC Transport, Sovereign Insurance PLC, Royal Exchange PLC Academy and 38 other companies.
The Equity capitalization that represents the market value plunged to N19.82 Trillion from N19.92 Trillion it stood on Wednesday, a N100.66 Billion loss.

This forced the All-Share Index, (ASI) to close at 38,044.58 points, a downward movement from 38, 233.68 points it closed on the previous day.
The market last week witnessed a five days consecutive record of losses, with the bears dominating the floor.

Apart from the volume of stocks traded that closed blue, other indicators, the value, and the total number of shares traded also closed in the negative.
The volume of stocks traded on Thursday was 214.17 Million shares but was 203.08 Million shares on Wednesday.
Conversely, the value fell to N1.336 Billion from N1.815 Billion recorded on the previous day.

Guaranty Trust Bank share was the most preferred by investors on Thursday, recording a total turnover of N2.263 Billion in 314 deals.
Zenith Bank and UAC Nigeria were other investor’s delight.
Market sentiments as measured by breadth closed bearish recording 42 losers against only 16 gainers.

On the gainers’ side, Mutual Benefit Insurance led the chart with a 3 Kobo rise in its share price. It closed at 44 Kobo from 41 Kobo it traded on Wednesday, while Cutix Plc followed with a 15 Kobo rise in its share price
Other gainers were Regency Alliance Insurance plc, Consolidated Hallmark Insurance and Champion Breweries.
On the other hand, Sovereign Insurance PLC, Royal Exchange, ABC Transport, Wapic and Academy dominated the loser’s chart.