Lagos, Nigeria – Investors in the Nigerian Equities Market faced a loss of N142 billion on Thursday following a decline in the share prices of companies such as WAPIC, UPL, and Sovereign Trust Insurance, among others.
At the close of trading, the equity capitalization dropped from N59.5 trillion on Wednesday to N59.3 trillion, while the benchmark All-Share Index (ASI) decreased from 98,227.50 to 97,992.55 points.
Market Performance
Despite the decline, market breadth was positive as 33 stocks advanced, 24 stocks declined, and 66 stocks remained unchanged across 10,659 deals.
Top Gainers
- AUSTINLAZ: Gained 10%, closing at N2.42 from N2.20.
- EUNISELL: Increased by 9.98%, closing at N17.52 from N15.93.
- HM CALL: Rose by 9.95%, closing at N4.64 from N4.22.
Top Decliners
- WAPIC: Dropped 9.82%, closing at N1.01 from N1.12.
- UPL: Fell by 9.09%, closing at N3.50 from N3.85.
- Sovereign Trust Insurance: Declined by 8.96%, closing at N0.61 from N0.67.
Trading Volumes and Values
Volume Index
- FBNH led with 51 million shares traded across 263 deals.
- TANTALIZER followed, trading 48 million shares in 207 deals.
- WAPCO recorded 39 million shares traded in 1,121 deals.
Value Index
- WAPCO led with stocks worth N2.3 billion traded in 1,121 deals.
- FBNH followed, with equities valued at N1.3 billion across 263 deals.
- ZENITH BANK recorded trades worth N997 million in 402 deals.
Outlook
The significant drop in equity capitalization highlights persistent volatility in the market. Investors are advised to monitor economic conditions and stock performance closely while seeking diversification to mitigate risks.
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