Investors in the Nigerian stock market recorded a cumulative loss of N5.45 trillion as the equities market extended its bearish run to an eighth consecutive session on Thursday.
Last week, investors on the NGX lost N3.8 trillion in four consecutive bearish sessions.
So far this week, from Monday to Thursday, stocks on the NGX have shed a total of N1.65 trillion.
Therefore, the combined losses recorded over the last eight trading sessions amounted to N5.45 trillion, wiping out previous gains in the market.
Thursday’s market performance
The market extended its bearish run on Thursday as investors lost N440 billion, driven by continued profit-taking in large- and mid-cap stocks.
Market capitalisation declined by 0.30 per cent, or N440 billion, from N155.417 trillion at the opening of trading to N154.977 trillion at the close.
International Energy Insurance led the losers’ chart, declining by 9.85 per cent to close at N4.30, while Haldane McCall led the gainers’ table with a 9.38 per cent decline, finishing at N3.85.
