Stock investors record N27bn loss as market dips by 7bps


  • Dogonyaro exits Guinness board
Uba Group


Nigerian equities declined at the end of Wednesday’s trading session thereby reversing some gains made in the previous session as the benchmark index lost 0.07 percent to close at 68,334.68 basis points.

Likewise, the market capitalization dipped to N37.373 trillion from N37.400 recorded in the last trading session translating to investors losing N27 billion.

Investors showed interest in the shares of FBNH, DANGCEM and NESTLE as they recorded 0.84, 0.05 and 0.01 percent gain respectively to offset selloffs in the shares of GTCO, NB, and UBA which lost 1.77, 0.65 and 0.33 percent respectively to put the market in the red.

Consequently, the year-to-date return fell to 33.24 percent.

Market activities analysis showed trade turnover settled lower relative to the previous session, with the value of transactions down by 46.30 percent.

A total of 378.65 shares valued at N5.48 billion were exchanged in 7,671 deals.

OANDO led the volume chart with 83.53 million units traded while DANGCEM led the value charting deals worth N708.71 million.

In another development, the board of directors of Guinness Nigeria Plc has announced the retirement of Ambassador Sunday Dogonyaro from the position of a non-executive director of the company.

Guinness Nigeria in a statement signed by the company secretary, Rotimi Odusola, sent to the Exchange on Wednesday, expressed gratitude to him for his passionate leadership and invaluable contribution to the success of the company since 2014 when he joined the board.

The statement disclosed that Dongoyaro exited the board on August 31, 2023.