HomeBUSINESSNSE: The market sheds N65.8 Billion on Thursday, fails to sustain the two days’ consecutive gains.

NSE: The market sheds N65.8 Billion on Thursday, fails to sustain the two days’ consecutive gains.

Transactions on the floor of the Nigeria Stock Exchange closed red on Thursday, as the market could not sustain the two days’ consecutive gains.

The market closed blue on Tuesday and Wednesday with over thirty-five point one billion naira gain.

However, on Thursday the market shed sixty-five point eight billion naira on the equity capitalization to close at twenty point nine-seven trillion naira from twenty-one trillion traded on Wednesday.

All the market indices, the equity capitalization, The All Share Index, the volume, the value, and the total number of deals consequently closed in the negative.

The All Share Index fell to forty thousand, ninety-five point four nine points, from forty thousand twenty-two point three points at the close of business on Wednesday.

Three hundred and twenty-six million shares exchanged hands on the floor, which was a reduction from four hundred and sixty-nine point five-six million traded on Wednesday, a thirty point five-six percent fall.

The value similarly fell by three point three six billion naira. This was a reduction from seven billion naira on Wednesday to three point seven billion on Thursday.

The downturn was aggravated by losses recorded in medium and large capitalized stocks, which include, ZENITH BANK, OANDO PLC, UNITED CAPITAL PLC, DANGOTE SUGAR and UBA, which traded over sixteen million shares each.

There were fourteen gainers and twenty-four losers.

CHAMS PLC and ROYAL EXCHANGE PLC dominated the gainer’s chart among the fourteen gainers.

On the other hand, LASSACO led the losers side. Other top losers include, FIDSON, ETI and MUTUAL BENEFIT INSURANCE PLC.

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