Easter: 24 Firms drag Nigerian Stocks to N3bn loss

The Nigerian equities marketplace closed successful the reddish connected Thursday up of the Easter holidays, arsenic sell-offs successful 24 listed firms wiped retired astir N3 cardinal successful marketplace value.

Stocks specified arsenic John Holt, Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers were among the cardinal drivers of the downturn, arsenic investors offloaded shares.

At the adjacent of trading, marketplace capitalization slipped marginally by 0.002 percent, declining from N129.809 trillion astatine the opening to N129.806 trillion.

Similarly, the All-Share Index shed 4.66 points, oregon 0.002 percent, to settee astatine 201,698.89, down from 201,703.55 recorded successful the erstwhile session. Despite the dip, the marketplace maintained a year-to-date instrumentality of 29.62 percent.

Market breadth, however, remained positive, with 34 gainers compared to 24 losers.

On the gainers’ table, Unilever Nigeria Plc led with a 10 per cent summation to adjacent astatine N103.40 per share. It was followed by Fortis Global Insurance, Multiverse Mining, Legend Internet, and Zichis Agro Allied Industries.

Conversely, John Holt recorded the steepest decline, dropping by 9.91 percent to adjacent astatine N15.45 per share. Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers besides posted notable losses.

Trading enactment weakened during the session, ...