Stock market closes lower, sheds N167bn

Trading on the floor of Nigerian Stock Exchamge Thursday sustained volatility during the day, closing lower by N167 billion on a higher traded volume.

Market capitalisation of listed equities declined by 0.81 per cent to N20.470 trillion from N20.637 trillion reported the previous day.

The NSE All Share Index also depreciated by 319.08 basis points to 39114.73 points from 39433.81 points traded on Wednesday.

Investors exchanged 403.511 million shares valued at N4.809 billion in 4342 deals against 349.558 million worth N3.501 billion exchanged hands the previous day in 4554 deals.

Capital market operators attributed negative performance of the market on investors sustained profit taking activity during the day.

An analysis of the investment showed that

Conoil Plc led gainers table during the day, appreciated by 10 per cent to N18.70 kobo, Courtiville followed with a gain of 10.00 per cent to close at N0.22 kobo, Seplat gained 9.99 per cent to N604.40 kobo, Linkage Assurance added 8.62 per cent to N0.63 kobo while Access Bank increased by 5.19 per cent to N8.10 kobo.

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