The record sell pressure seen this week on the Nigerian Exchange (NGX) Limited left many equity buyers with negative returns ahead of Easter break which commences on Friday, April 2.
At the close of trading session on the four-day trading week, the market dipped by 0.73 percent. This month it has declined by 2.18 percent, while record year-to-date (YtD) negative return has increased to -3.33 percent.
The All Share Index (ASI) and market capitalisation moved further down on Thursday by 0.29 percent or N67 billion.
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The record loss on April 1 was fuelled majorly by stocks like FTN Cocoa which led the laggards after its share price moved from the previous day high of 46kobo to 42kobo, losing 4kobo or 8.70 percent.
It was followed by NEM Insurance which dropped from N2.3 to N2.13, losing 17kobo or 7.39 percent, while Unity Bank also decreased from 75kobo to 70kobo or 5kobo or 6.67 percent.
The NSE ASI decreased from the preceding day’s 39,045.13 points to 38,916.74 points while the value of listed stocks decreased from N20.428 trillion to N20.361 trillion.
UACN, Transcorp, Fidelity Bank, Flour Mills and GTBank were most traded stocks on the Bourse.
In 4,450 deals, equity dealers exchanged 239,421,124 units valued at N2.315 billion.
