By Omobayo Azeez
Sell pressure that has characterised Nigeria’s equities market in recent times has again cost investors dearly to a tune of N265 billion in the last two trading sessions.
Activities on stocks on Wednesday and Thursday ended on negative notes to see the market shed N153 billion and N112 billion respectively, to bring losses recorded in the two trading session to N265 billion.
Consequently, the valuation of equities investment at the Nigerian Stock Exchange nosedived to N13.297 trillion on Wednesday and then down to N13.185 trillion.
Similarly, the All-share Index (ASI), which is the benchmark indicator of price movement of share at the stock market shed 316 points or 1.14 per cent and 229.18 per cent on Thursday to close to settle at 27,085.69 bps at the last session.
Market breadth also followed suit to close on the red after 18 declining stocks emerged against 12 advancing counterparts while nine others closed on unchanged prices.
Leading the gainers’ chart was Nigerian Breweries which closed the day at N50.35 after its share price upticked by N1.35. Mobil followed with N1 gain to close at N140.
CCNN, Ecobank Transnational Incorporated (ETI) and Flourmill gained N0.90, N0.60 and N0.40 to close at N16.40, N7.85 and N15 per share.
On the flip side, Nestle lost N139.40 to close at N1,255.50 and top the losers’ chart, while BETAGLAS followed with a loss of N5.95 to close at N53.80 per share.
Other losers include Unilever, Guinness and Dangote Sugar, shedding N2.05, N1.10 and N0.25 to close at N24.65, N32.90 and N10.55 per share.
Activities ended on Thursday with 151.198 million shares worth N2.522 billion traded in 2,895 transactions as against 175.78 million share units valued at N2.569 billion that exchanged hands in 3,539 in the previous session.