The losses recorded by Airtel Africa, MTN Nigeria Communication, Nigerian Exchange Group, and others dipped the market capitalisation by N860bn at the close of trading on Thursday.
The market furthered its losing streak on Thursday by 3.23 per cent or N860bn, following sell offs in Airtel Africa Plc and 22 others.
Airtel Africa led the laggards after its share price moved down from preceding day from N2,000 to N1,800, losing N200 or N10 per cent.
It was closely followed by Presco which dropped from N142.60 to N128.35, losing N14.25 or 9.99 per cent; and Okomu Oil Palm, which also decreased from N188.30 to N169.50, losing N18.80 or 9.98 per cent.
The stock market capitalisation decreased from N26.6tn to N25.741tn.
A newcomer, Geregu Power, recorded the highest price gain of 9.91 per cent to close at N120.90, per share. Livestock Feeds followed with a gain of 9.80 per cent to close at N1.12, while Cutix rose 8.00 per cent to close at N2.16, per share.
Cornerstone Insurance went up by 3.92 per cent to close at 53 kobo, while FCMB Group appreciated by 3.83 per cent to close at N3.23, per share. On the other hand, Airtel Africa led the losers’ chart by 10 per cent to close at N1,800 per share.
Presco followed with a decline of 9.99 per cent to close at N128.35, while Okomu Oil lost 9.98 per cent to close at N169.50, per share.
Transnational Corporation of Nigeria traded 13.207 million shares valued at N13.823m, while Geregu Power transacted 4.964 million shares worth N586.76m.
