Victor Ezeja
The Nigeria’s equity market entered the new month of August on a note of decline.
Data obtained from the Nigerian Exchange Group’s website shows that the market decreased by 0.42 per cent at the close of trading on Thursday, 1 August 2024, being the fourth consecutive day decrease.
Join our WhatsApp ChannelIt is also the high daily losses in the equity market in the week.
This comes as the Nigerians embarked on nationwide protest that would last for 10 days beginning from 1st to 10th August.
They are protesting against rising cost 0f living and economic hardship in the country.
Despite the protest tagged #EndBadGovernance, the NGX operations remain unaffected.
The NGX All-Share Index decreased to 97,359.76 points against the previous day’s 97,774.22 points.
Also, equity market capitalisation dropped to N55.278 trillion as against preceding trading day’s and N55.513 trillion.
READ ALSO: NGX ASI Falls 0.31% As United Capital, Nestle Among Top Equity Losers
This is the highest daily drop as protests rock the country.
Dangote Sugar Refinery, Oando, Mecure Industries, Thomas Wyatt and Coronation Insurance were the top equities losers.
The shares of Dangote Sugar Refinery dropped from of N37.15 to N34.30, losing N2.85 or 7.67 per cent, Oando Plc decreased from N25 to N23, losing N2 or 8 per cent, while that of Mecure declined from N9.05 to N8.15 losing N0.90 or 9.96 per cent.
United Capital, Cutix, Africa Prudential, Tantaliser and UPDC Real Estate Investment Trust were the top equity gainers at the close of trading on Thursday,
United Capital’s shares increased from N10.05 to N11.05 gaining N1 or 9.95 per cent, Cutix shares increased from N 5.13 to N 5.64 gaining N0.51 or 9.94 per cent, while African Prudential’s shares rose from N 8.55 to N 9.40 which is No.85 per cent or 9.4 per cent.
The actively traded shares were that of UBA, Zenith Bank, Access Holdings, Fidelity Bank, and Oando, as investors exchanged 565,116,303 shares worth N8.530 billion in 6,821 deals.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
