Equity market records losses, capitalisation down by N25bn

The equity market extended losses on Thursday as the market capitalisation shed N25 billion or 0.10 per cent to close at N24.094 trillion from the 24.119 trillion on Wednesday.

Similarly, the All-Share Index dipped by 46.32 points or 0.10 per cent to 44,236.70 from 44,283.02 recorded on Wednesday.

The negative performance was due to selloffs in stocks of Zenith Bank and FBN Holding.

Overall, there were eight gainers and 16 losers, with UPDC Real Estate Investment Trust leading the gainers’ chart with 9.09 per cent to close at N3 per share.

Trans Nationwide Express followed with a rise of 8.82 per cent to close at 74k, while Champion Breweries gained 7.81 per cent to close at N3.45 per share.

Also, Japaul Gold and Ventures rose by 7.69 per cent to close 28k, while Cutix Plc appreciated by 4.88 per cent to close at N2.15 per share.

Conversely, Prestige Assurance Company led the losers’ chat with a depreciation of 9.80 per cent to close at 0.46 per share.

Caverton Offshore Support Group declined by 9.38 per cent to close at 87k, while Sunu Assurances went down by 8.57 per cent to close at 32k per share.

Unilever Nigeria fell by 8.29 per cent to close at N9.95 per share.

Also, Multiverse Mining and Exploration lost by 8.23 per cent to close at N4.24 per share.