Bears are seemingly controlling activities in Nigeria’s stock market. This is evidenced in the record consecutive negative closes in three out of the four-day trading week.
The record negative trading sessions on the Bourse led to about N377billion value loss by investors in stocks.
The shortened trading week opened with listed equities valued at N20.847trillion but consistent sell off in major counters without corresponding demand impacted negatively on equities prices Equities value dipped to N20.470trillion at the close of trading session on Thursday May 6.
Also, the Nigerian Exchange (NGX) Limited All Share Index (ASI) decreased to 39,114.73points from week open high of 39,834.42 points.
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The ASI decreased by 0.81 percent on Thursday. This week it has dropped by 1.82 percent, while this year, the market has decreased by 2.87 percent.
In 4,342 deals, investors exchanged 403,511,692 units valued at N4.809billion.
BOC Gas Plc led the decliners after its share price moved from N13.61 to N12.25, losing N1.36 or 9.99 percent, while Courtevile gained most, after moving from 20kobo to 22kobo, adding 2kobo or 10 percent.
