See more as Investors lose over N270bn as Nigerian stock market declines

• The Nigerian banal marketplace recorded a mediocre show connected Thursday arsenic investors sold mostly shares
• New information shows the sell-off affected the stock terms of May & Baker, Chellaram, Linkage Assurance and MCNichols, among others
• Royal Exchange, Fidelity Bank, Japaul Gold, UBA, and Tantalizers were actively traded stocks by investors

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The Nigerian banal marketplace closed Thursday, May 22, bearish, with investors signaling a combined nonaccomplishment of N274 billion.

Data shows that the Nigerian Exchange Limited (NGX) All-Share Index (ASI) decreased by 0.41% to 109,183.02 points from the preceding day’s precocious of 109,619.1 points.

Stock investors suffer implicit N270 cardinal successful hours Photo credit: Nurphoto
Source: Getty Images

While marketplace capitalisation decreased by 0.39% to N68.621 trillion against the preceding day’s N68. 895 trillion.

Snapshot of the marketplace performance

In 26,176 deals, investors exchanged 1,646,952,901 shares worthy N19.098 cardinal connected Thursday.

Here is how the marketplace performed.

Top gainers

• Union Homes Real Estate Investment Trust gained N4.60, rising from N46.15 to N50.75 per share, up 9.97%.
• Red Star Express Plc gained N0.55, moving from N5.55 to N6.10 per share, up 9.91%.
• R.T. Briscoe Plc gained N0.20, expanding from N2.09 to N2.29 per share, up 9.57%.
• Sovereign Trust Insurance Plc gained N0.09, rising from N0.96 to N1.05 per share, up 9.38%.
• Custodian Investment Plc gained N1.80, climbing from N20.00 to N21.80 per share, up 9.00%.

The banal marketplace dropped by 0.41% connected Thursday Photo credit: Nurphoto
Source: Getty Images

Top losers

• May & Baker Nigeria Plc declined by N1.30, falling from N13.05 to N11.75 per share, down 9.96%.
• Chellarams Plc dropped N1.30, decreasing from N13.05 to N11.75 per share, down 9.96%.
• Linkage Assurance Plc mislaid N0.16, moving from N1.62 to N1.46 per share, down 9.88%.
• Omatek Ventures Plc declined by N0.06, dropping from N0.68 to N0.62 per share, down 8.82%.
• McNichols Plc mislaid N0.20, decreasing from N2.30 to N2.10 per share, down 8.70%.

Top progressive trades

• Royal Exchange Plc recorded a turnover of 903.59 cardinal shares valued astatine N903.11 million.
• Fidelity Bank Plc traded 137.41 cardinal shares worthy N2.42 billion.
• Japaul Gold and Ventures Plc exchanged 81.68 cardinal shares valued astatine N164.23 million.
• United Bank for Africa Plc recorded 60.78 cardinal shares worthy N2.08 billion.
• Tantalizers Plc traded 43.50 cardinal shares, amounting to N111.52 million.

Naira appreciated against US dollar

Earlier, Legit.ng reported that successful the latest speech complaint information released by the CBN, the naira further appreciated against the US Dollar by 0.48 per cent oregon N7.69 astatine the Nigerian Foreign Exchange Market (NFEM).

During the trading session, the speech complaint closed astatine N1,591.25/$1, successful opposition to the preceding day’s worth of N1,598.94/$1.

It was a akin show for the naira against the euro and British lb sterling successful the authoritative market.

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Source: Legit.ng