NGX sheds 0.29% as Nestle, NASCON suffer losses

The local bourse suffered another day of dip as investors lost N112bn at the close of trading on Thursday.

Investors on Wednesday lost N27bn as trading activities slowed as the nation awaited the decision of the Presidential Election Petitions Tribunal. The PEPT affirmed the victory of President Bola Tinubu at the February polls.

On Thursday, the market reacted negatively as the amount of loss worsened to N112bn with the market capitalisation losing 0.29 per cent to close at N37.261tn. Similarly, the NGX All-Share Index lost 204.17 basis points to close at 68.082.11.

Although the volume of shares traded dropped to 378.089m, the value of the traded shares was higher at N8.38bn compared to the previous trading figure of N5.48bn. The shares were traded in 8,106 deals.