The Nigerian stock market lost N3 billion in value on Thursday as investors offloaded shares in several companies. Market capitalisation fell by 0.002 per cent, closing at N129.806 trillion from N129.809 trillion at the opening. The bearish performance was attributed to profit-taking in equities such as John Holt, Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers. Trading activity saw turnover value rise to N1.19 billion from N937.4 million the previous day, with 298.9 million shares exchanged across 3,395 deals. The All-Share Index dipped to 40,090.18 points, down 6.46 points from the previous close.
A loss of N3 billion over a single trading day may seem marginal, but the continued volatility in stocks like CHAMS and Abbey Mortgage Bank signals lingering investor unease. With the All-Share Index barely holding above 40,000 points, confidence in the equity market remains fragile. This kind of seesaw movement does little to attract long-term capital from Nigerian retail investors.
