The equities market extended its losing streak on Thursday, as investors lost N613 billion amid sustained sell-offs across key oil and gas, banking, industrial and consumer goods stocks. 

The market capitalisation declined by 0.39 per cent, falling from N157.493 trillion to N156.880 trillion.

The All-Share Index also dropped from 243,967.09 to 243,017.38, representing a decline of 949.71 points, or 0.39 per cent. 

This led to the market’s year-to-date (YTD) return weakening further to 56.17 per cent, while market breadth closed negative, recording 41 losers against 16 gainers. 

Unilever Nigeria led the losers’ chart by 9.97 per cent, closing at N118.30; Chellarem followed by 9.66 per cent, ending the session at N10.75, while NIDF lost by 9.55 per cent, finishing at N147.70 per share.

Daar Communications fell by 9.25 per cent, settling at N1.57, while Cornerstone Insurance dropped by 9.09 per cent, closing at N5 per share. 

Conversely, International Energy Insurance led the gainers’ chart by 10 per cent, settling at N4.84; John Holt trailed by 9.89 per cent, finishing at N10; and Trans-Nationwide Express gained by 9.75 per cent, ending the session at N2.59 per share. 

Sunu Assurances climbed by 8.48 per cent, closing at N3.58 while Nem Insurance grew by 6.25 per cent, finishing at N34 per share. 

Meanwhile, market activity strengthened during the session, as total volume traded rose by 191.22 per cent to 4.24 billion shares, valued at N50.65 billion, across 41,545 deals. 

Cornerstone Insurance led trading by volume and value, with 3.64 billion shares traded, accounting for 85.82 per cent of the total volume and 36.26 per cent of the total value traded.

(NAN)