Investors in the Nigerian Exchange Limited have on Thursday suffered a whooping N71.44bn loss because of the fall of gas and banking stocks.
Why it matters?
The Nigerian Exchange All-Share Index recorded a 136.25 basis point difference, having dropped from 43,245.02bps on Wednesday to 43,108.77. Also, market capitalization dipped from N22.57tn to N22.49tn.
Experts at Atlas Portfolios Limited said that “the market decline was on the back of sell-off in Nigerian Breweries Plc, Seplat Energy Plc and some other market bellwethers.” Also, the oil and gas indices fell by 1.64 per cent, banking indices by 1.16 percent, consumer indices by 1.06 per cent and industrial goods indices by 0.01 per cent.
Analysis by sectors shows that only the Nigerian Exchange Insurance Index rose by 0.64 per cent at the end of Thursday’s trading session.