Lagos - Trading on Thursday on the floor of the Nigerian Stock Exchange ended on a negative note with losses in the shares of some major companies, pushing market capitalisation down by N297bn, Punch reports.
The affected companies include Seplat Petroleum Development Company Limited, Oando Plc, Guaranty Trust Bank Plc, FBN Holdings Plc and FCMB Group Plc, among others.
Also read: Nigerian capital market loses N317bn in one day
At the close of trading, the market capitalisation fell to N8.336tn from N8.633tn while the All-Share Index depreciated from 25,103 basis points to 24 239.98 basis points.
A total of 262.522 million shares worth N2.409bn were traded in 2 579 deals; of which 31 stocks fell in value while only five appreciated.
Market watchers attributed the persistent downward trend to massive profit taking embarked upon by investors.
Read more at Punch
- News 24