Stocks Slide Further At Exchange

The performance of traded equities at the Nigerian Stock Exchange (NSE) has once again become scary as the gains of the week’s opening continued to slide on Tuesday and Wednesday.

At the end of trading on Wednesday, all the market indicators crashed out, leaving investors’ stake in red.

Specifically, market closed lower at 23,808.68 points, shedding 54.59 points or 0.23 per cent from 23,863.27 points traded on Tuesday which was also on a bearish note.

Market capitalisation of traded shares lost N17.46 billion, from N7.633 trillion traded on Tuesday, to close at N7.616 trillion.

Investors’ 167.725,728 shares, worth N1.48 billion, exchanged hands in 4,721 deals, as against 500,273,171 shares, valued at N2.734 billion, which were traded in 5,282 deals.

The volume of traded equities crashed by 66.5 percent or 332,547,443 shares, from 500,273,171 shares traded by investors on Tuesday, to close lower at 167,725,728 shares.

Also, share value lost N1.251 billion or 45.8 per cent, from N2.734 billion traded on Tuesday, to close lower at N1.483 billion.

A total of 116 companies traded at the exchange, as against 123 companies that did transactions at the floor of NSE on Tuesday.

Out of the 116 companies, 21 companies made gains in their trading, 22 companies lost, while the prices of shares of 73 companies remained unchanged.